16:26 - 5.03.2020

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March 5, Fineko/abc.az. Full insurance of all the protected deposits will be extended by 9 months.

According to information ABC.AZ received from the Central Bank, the matter of extending the term on the Law on Full Deposit Insurance was widely discussed in the Financial Stability Council of Azerbaijan.

As a result, with the purpose to protect better the interests of depositors and creditors, the Law on Full Deposit Insurance has been extended by nine months. The recommendation of the Financial Stability Board was supported, and the bill will be submitted for discussion after the newly elected Parliament begins its work.

Thus, it is planned to extend the term of full deposit insurance by licensed banks participating in the Azerbaijan Deposit Insurance Fund from 4 March to 4 December 2020.