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Azerbaijani Insurance Fund Prepares to European Banking Forum Membership

Business Materials 25 August 2008 19:52 (UTC +04:00)

Azerbaijan, Baku, 25 August / Trend corr. I.Ilhamgizi / Global Banking Development Solution, consultant of the Azerbaijani Deposit Insurance Fund (ADIF), has commenced to develop documents to become the European Banking Forum membership," Azad Javadov, Fund's Executive Director, said.

"Membership in the European organization is beneficial to get acquainted with achievements and problems in other insurance funds and agencies," Javadov said.

In this connection, Fund's Supervision Council has positively treated to the proposal. At present, European Banking Forum has 52 members and all the CIS countries, which have deposit insurance fund. Membership fee to the organization is €850 annually.

Although three years arraignment plan on fund's institutional development was developed through assistance of Global Banking Development Solution.

Workshops and consultations with participation of the European forum members are being held.

ADIF launched operating on 13 August 2007. At present, European Banking Forum unites 37 Azerbaijani operating banks.

On 25 August, the official currency rate is 0,814 AZN/USD. 

The correspondent can be contacted at: [email protected]

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