Baku, Azerbaijan, Apr. 18
By Azad Hasanli – Trend:
The Supervisory Board of the Azerbaijan Deposit Insurance Fund (ADIF) may consider changing the uppermost limit of the interest rate for individuals’ insured deposits in the national and foreign currency after April 20, 2017, Azad Javadov, executive director of the ADIF, said April 18 at a press conference in Baku.
Currently, the uppermost limit of the interest rate for individuals’ insured deposits in foreign currency is 3 percent. The maximum interest rate for individuals’ manat deposits covered by insurance is 15 percent.
Earlier, Javadov told Trend that the uppermost limit of the interest rate for insured deposits of individuals may be liquidated in Azerbaijan. He said this can be done through expanding ADIF mandate and amending Azerbaijan’s legislation.
ADIF has been operating since August 13, 2007.