On August 15, the Fund paid over AZN 16.6 milion to Parabank’s depositors, AZN 19.2 million to Zaminbank’s depositors, AZN 4.3 million to Kredobank’s depositors and AZN 2.1 million to Dekabank’s depositors. Totally, AZN 42.2 million compensation has been paid to the four closed banks’ depositors.
Depositors of Dekabank OJSC, Kredobank OJSC and Zamibank OJSC may apply to the head office of these banks, Parabank’s depositors to the branches where they signed contracts.
The insured depositors may get application forms from ADIF office in Bulbul Avenue 40, Baku, branches of Dekabank, Kredobank, Parabank and Zaminbank and adif.az website.
According to a decision passed in the extra-ordinary meeting of ADIF Board of Custodians held on March 1, 2016 agreeing with the Central Bank of Azerbaijan, the upper limit of annual interest rate on insured deposits in foreign currency made 3%, on insured deposits in the national currency – 12%.
According the third article of the Law “on deposit insurance”, all insured deposits with the interest rate provided by the ADIF Board of Custodians will fully be insured for three years regardless of amount.
Starting March 2, 2016, if the interest rate on new deposits is higher than 3% and 12%, these deposits will not be insured by the Fund and no compensation will be paid for them.
The Fund repays 100% of deposits which make no more than AZN 30,000
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