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ADIF selected bank agents to pay compensations to depositors of Royal Bank
Azerbaijan Deposit Insurance Fund (ADIF) has selected MuganBank, Bank Republic and AG Bank as agents for payment of compensations to the depositors of the recently shut down Royal Bank.
ADIF reported that since August 1, 2012 all deposits up to 30,000 AZN will be fully compensated. 98% deposits in Royal Bank were secured by the state, ADIF said.
ADIF has been operating since August 2007. Its members are 43 of 45 of banks operating in the country. Maximum size of insurance compensation per deposit is 30,000 AZN. Since June 1, 2010 the Fund does not insure the deposits with the interest rate over 12% per annum.—0--
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- Economics
- 21 July 2012 13:08
Economics
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