Baku. Musa Ahmadov – APA-Economics. Depositors of Caucasus Development Bank and Atrabank will start receiving compensation from today.
Azerbaijan Deposit Insurance Fund will pay the compensations through Caucasus Development Bank and Atrabank from August 22. The Fund will exactly inform the depositors about place of the payment.
The Fund shall compensate insured deposits at each member bank to the 100 per cent of the deposit balance but not to exceed 30 (thirty) thousand manats.
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.
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