16:13 - 28.06.2024

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June 28, Fineko/abc.az. In Azerbaijan, the risk of loss of finances and financial instruments of investors in investment companies that have lost their solvency will be insured.

ABC.AZ reports with reference to the Central Bank of Azerbaijan that this is reflected in the draft amendments to the Law on Deposit Insurance, concerning insurance of investments in investment companies.

"The draft defines provisions on compensation cases, the volume of insured investments, the creation of an appropriate compensation fund, admission to members of investment companies, payment of membership fees to the fund and provision of compensation. Currently, the project is being discussed with the relevant government agencies, and its completion is expected in the near future," the CBA noted.

It is noted that the investment insurance mechanism will be developed jointly by the Central Bank and the Deposit Insurance Fund and introduced by the ADIF. As a result of these changes, it is also assumed that the ADIF will be renamed.