Azerbaijan, Baku / Trend corr I. Khalilova / The International Bank of Azerbaijan (IBA) has issued registered youth deposit certificates within the framework of the policy on services and products supplied to all population categories, according to the report of the bank publicized on 7 August.
Deposit certificates offered by the bank are issued in manats (Azerbaijani national currency) and US dollars for a period of 10 years in three face-values: 5,000, 10,000 and 50,000. The interest rate comprises 25%. This is a long-term product intended for the future of the growing generation. In 10 years the sum deposited in IBA increases 3.5 times.
Functional opportunities of these liquid securities include quotation in securities market, partial compensation of interest (yearly interest rate) with early return and transmission of property rights to another person (assignment).