12:16 - 1.07.2019

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July 1, Fineko/abc.az. The Board of Trustees of the Azerbaijan Deposit Insurance Fund (ADIF) in coordination with the Financial Market Supervision Authority and the Central Bank of Azerbaijan set the upper limit of the annual interest rate on protected deposits in national currency at the level of 10%, and in foreign currency at 2.5%.

According to ADIF, before 1 July the upper limit of the annual interest rate on protected deposits in the national currency made up 15% and in foreign currency 3%. Insurance of deposits in accord with this procedure remains in force until the expiry of the deposit agreement.

In accord with Fund’s decision, the retail deposits opened from 1 July 2019 in the national currency with an annual interest rate of more than 10% and in foreign currency with the rate of more than 2.5% will not be covered by insurance.