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ADIF undergoes changes
12.11.2009 19:33
 
ADIF undergoes changes

Azerbaijan, Baku, Nov. 12 /Trend Capital/

The register of the Azerbaijan Deposit Insurance Fund (ADIF) has undergone changes, as the two member banks were renamed, the ADIF said on Nov. 12.


Azfinansbank was renamed AFB Bank and Azerdemiryolbank - Demirbank. Today ADIF has 42 members.


Since Jan. 1, 2009, the fund has not insured deposits at the ADIF member-banks at an annual percentage above 15 percent and compensation for them is not envisaged. Currently, an upper bracket of insurance coverage on deposit is 30,000 manat. For the insurance of their deposits, depositors do not make any payments, and insurance payments are made only by banks.

On Nov. 12, the official exchange rate is 0.8029 manat to $1.

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