Azerbaijan increases manat deposit insurance rate to 15%

Baku. 16 September. REPORT.AZ/ Manat deposit insurance rate in Azerbaijani banks has been increased from 12% to 15%.

Report informs, Chairman of the Azerbaijani Banks Association,  Zakir Nuriyev told reporters.

According to him, it was carried out after Central Bank of Azerbaijan (CBA) increased discount rate to 15%: 'Of course, increase of insured deposits rate will raise prices of the funds attracted by the banks, but experience shows gradual reduction in interests'.