330x110
 

IBA to return deposits of two closed banks - compensation to be paid in 2 stages

05.06.2020,15:27


June 5, Fineko/abc.az. In accordance with the Law on Deposit Insurance the day of the insured event in AG Bank and NBC Bank is set on 28 April 2020.

ABC.AZ reports that in accord with the decision of Azerbaijan Deposit Insurance Fund’s Board of Trustees the International Bank of Azerbaijan was chosen as the agent bank to pay compensation for deposits protected in AG Bank and NBC Bank. Compensation for insured deposits of AG Bank and NBC Bank will be paid in cashless form.

Compensation on protected deposits will be returned in two stages. Thus, starting from 16 June 2020 the branches of AG Bank and NBC Bank will accept applications and give compensations on deposits of up to AZN 30,000 (including AZN 30,000). Starting from 15 July 2020 the IBA’s branches will accept applications and give compensations on deposits exceeding AZN 30,000.