Azerbaijan increases manat deposit insurance rate to 15%

Azerbaijan increases manat deposit insurance rate to 15% It was carried out after CBA increased discount rate to 15%
Finance
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September 16, 2016 13:58
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'. 

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