Azerbaijan extends the term of full insurance of deposits by 4 months

The term of full deposit insurance in Azerbaijan is expected to be extended for another 4 months, APA-Economics reports.


The draft on an amendment to the law on full deposit insurance has been already included in the agenda of the Azerbaijani Parliament’s meeting scheduled for December 11. The draft suggests to extend the period for another 4 months.


Remind that in the background of crisis processes in the global economy, in order to maintain financial stability, to ensure the sustainability of the bank system and increase the confidence of depositors in the banking system, the Law on full Deposit Insurance, which came into force in Azerbaijan on March 4, 2016, and was twice extended, expired from December 4 this year.


Source: Azeri-Press News Agency