Azerbaijan, Baku, Jan. 6. / Trend N. Ismayilova /
Total deposit revenues in the Azerbaijani Deposit Insurance Fund (ADIF) hit 18 million manat in 2009, ADIF Executive Director Azad Javadov said
"The Fund's revenues increased by more than 60 percent in 2009, though in 2008 this figure made up roughly 11 million manat," Javadov said
ADIF launched its activity on August 13, 2008. Joint deposits of physical entities in member-banks of the Azerbaijani Deposits Insurance Fund hit 1.984 billion manat as a result of three quarters. About 1.378 billion manat refer to insured deposits and 606.18 million manat - to uninsured ones.
The number of insured investors hit 4,970,119 people in this period.
The banks transferred calendar payments to the fund in the amount of 624,000 manat, $1.157 and €145,000 in the third quarter. Total sum of payments to ADIF hit 16.317 million manat given initial payments by member-banks while entering the Fund's register.
Presently, ADIF unites 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.
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