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    Executive Director: ADIF has 12 million AZN in reserve

    Azad Javadov: The process of collecting fees from banks will continue up to 15 April

    Baku. 11 April. REPORT.AZ/ Reserves of the Azerbaijan Deposit Insurance Fund (ADIF) currently make 12 mln. AZN.

    Report was told by ADIF Executive Director Azad Javadov.

    A.Javadov also noted that the process of the membership fees collected from the banks not completed yet: "The process will continue up to April 15, after what the total reserves of the fund will be identified."

    Notably, in early March of this year, ADIF has attracted from the Central Bank of Azerbaijan 22 million AZN for a year at the rate of 5% per annum.

    By the end of last week, investors of Texnikabank OJSC, Bank of Azerbaijan OJSC and Ganjabank OJSC, licenses of which were eliminated by the ADIF, were paid a total of over 135 million AZN.

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