Term of full deposit insurance extended in Azerbaijan

By Trend

The term of full deposit insurance has been extended for nine more months in Azerbaijan.

The issue has been indicated in the amendment to the law "On Full Deposit Insurance", discussed at the plenary meeting of the Azerbaijani parliament on March 13, Trend reports.

In accordance with the amendment, the words “4 (four) years” have been replaced by the words “4 years and 9 months” in Article 3 of the Law.

The law on full deposit insurance was adopted on January 19, 2016, and was extended until March 4, 2020 as a result of amendments made in February 2019.

In accordance with the law, deposits made from March 4, 2016, through March 4, 2020, were fully insured before the deadline.