Amendments made for legislation on deposit insurance in Azerbaijan

Amendments made for legislation on deposit insurance in Azerbaijan
# 27 September 2011 12:24 (UTC +04:00)
Representatives of ADIF, KfW Bank and GBDS Company participated in the conference.

According to Javadov, most important issues are to make the calendar fees different, decrease the returning term of deposit from 90 days to 14 days, and involve the individuals and entrepreneurs and banks’ investors to the Fund.

Javadov informed about establishment of Fund, KfW Bank’s financial and technical assistance. According to him, AZN 2 bln deposit and 96% of depositors have been insured. Fund’s means make AZN 37 mln. KfW Bank has allocated $ 1 mln for institutional forming of Fund and $5 mln for capitalization of ADIF.
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THE OPERATION IS BEING PERFORMED