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Conditions of receiving soviet deposits by heirs in Azerbaijan announced

Business Materials 25 January 2012 00:01 (UTC +04:00)

Azerbaijan, Baku, Jan.24 / Trend A.Akhundov /

The Azerbaijani government is ready to return compensations to heirs of those who died and had deposits in the Savings bank of AzSSR before Jan.1, 1992. This is envisaged by the bill on return of soviet deposits prepared by the parliamentary committee on economic policy.

Heirs of those who died may get deposits after submitting all the necessary documentation, member of the economic policy committee of the Azerbaijani parliament Ali Masimli told Trend on Tuesday.

He said it is necessary for this to present savings book, identity card of the recipient as well as document proving inheritance of the recipient and which is issued by notary as defined by the Civil Code.

"If there is a number of heirs then when one of them receives compensation he will need documents confirming agreement of other heirs on this or they all should receive compensation together. Document on determining heir should be confirmed by the notary. If there is a will where inheritance issue is solved in accordance with the country's legislation this document will be adopted," Mr Masimli said.

Return of deposits will be held in 3 stages and will take 6 years.

During the first year of the first stage the bill envisages return of deposits of less-well-off sections of population who were born before 1935, martyrs' families, disabled war veterans and invalids of the first group, and during the second year - deposits of the Karabakh war veterans and those who were born before 1940.

During the first year of the second stage indexation of deposits of those who were born before 1945 is envisaged and during the second year - of those who were born before 1950 and their heirs.

During the third stage indexation of deposits of those who were born after 1950 and their heirs will be carried out.

"The last category is small that's why return of their deposits will require less than a year," Mr Masimli said.

He noted in the 6th year on the basis of decision of the special commission return of the deposits of those who lost or didn't get savings book as well as those who for some reasons didn't get compensation.

"This will require time, since every second from 10 depositors may have such problem. Information on them will be collected after the law comes into force and payments will be made in the end," Mr Masimli said.

The official exchange rate is 0.7862 AZN to $1 on Jan.24

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