Number of compensation payments by Azerbaijan Deposit Insurance Fund announced

Finance Materials 14 March 2022 18:27 (UTC +04:00)
Nazrin Israfilova
Nazrin Israfilova
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BAKU, Azerbaijan, March 14


The Azerbaijan Deposit Insurance Fund (ADIF) has paid compensation to 53,811 depositors over the 15 years of its activity, Trend reports citing the fund.

Data on the total amount of the fund's compensations are not presented.

ADIF was created by a decree signed by the President of Azerbaijan on February 9, 2007.

The purpose of the fund is to prevent the risk of loss of funds received from individuals in the event of insolvency of banks and local branches of foreign banks, to ensure stability and development of the financial and banking system.