ADIF indebted 3 mln AZN to depositors of 3 under-liquidation banks

Baku. 14 February. REPORT.AZ/ Azerbaijan Deposit Insurance Fund (ADIF) has to pay last 3.017 mln AZN to insured depositors of 3 commercial banks – Bank of Azerbaijan, Genjebank and Bank Technique after end of one-year application period.

Report was informed in the Fund.

According to information, breakdown of remaining debt among depositors of 3 banks is as follows:

Bank of Azerbaijan – 747,000 AZN;

Genjebank – 62,000 AZN;

Bank Technique – 2 208 million AZN.

“According to the law, compensation must be paid to depositor within 5 years. But after one year depositors should clarify why they didn’t apply to Fund within one year. For example, if he/she wasn’t in Azerbaijan during that time, then he/she have to explain and prove this fact. Otherwise, compensation will not be paid”, Fund’s statement says.