According to the Fund, in connection with the decision of Central Bank of Azerbaijan on revoking licenses of Caucasus Development Bank and Atrabank on January 27, 2016, these banks have been removed from the membership to the Azerbaijan Deposit Insurance Fund.
ADIF will pay off the compensations to the depositors starting August 22, 2016. The depositors will be given additional information about the date and place for paying off the compensations.
The Fund informs that up to AZN 30,000 will be paid to the depositors. Remaining part will be paid by the liquidator in accordance with the law.