ADIF told APA-Economics that an insurance event happened in the bank on October 4. Payment of the compensation to the insured depositors will start from October 11, 2016.
The depositors may apply within a year since the publication of notification on payment of the compensation.
According to a decision passed in the extra-ordinary meeting of ADIF Board of Custodians held in March 01, 2016 agreeing with the Central Bank of Azerbaijan, the upper limit of annual interest rate on insured deposits in foreign currency made up 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.
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