Bill On Insurance of Deposits Discussed in Azeri Parliament

Business Materials 26 December 2006 13:04 (UTC +04:00)

The bill On insurance of deposits was discussed on December 25 at the joint meeting of the Permanent Commission of the Azerbaijan Parliament for Economical and Agrarian Policy. The Executive Director of the National Bank of Azerbaijan, Rufat Aslanov, presented information on the bill.

He said that the proposals of the MPs have been taken into consideration in the document. Presently there are 4,600,000 depositors in Azerbaijan.

This bill envisages insuring the deposits of up to AZN 4,000 and less. It will continue till 2008. After 2008, the insurance of deposits more than AZN 4,000 may be considered and discussed, he said.

The Deputy of the Parliament, Vahid Ahmadov, said that majority of the proposals has not been taken into consideration. MPs Ali Masimli, Azer Amiraslanov and others expressed their attitude towards the document and made a number of proposals.

After discussions, it was recommended to present the bill to the discussions of the Parliament.