Most insurance reserves of Azerbaijan Deposit Insurance Fund (ADIF) is placed in government securities.
According to the Fund, since the start of the year the total volume has grown by 5 million manat (6.7 % as of 1 January). By April 1, about 75 million of the total 80 million manat was concentrated in the securities of the Central Bank and Ministry of Finance.
Almost all 5 million of the remaining fund is managed by the German company Deutsche Asset Management International, while the rest is in other assets.
Members of the Deposit Insurance Fund are 42 banks.
The Fund was established in 2006. The main goal is to guarantee the repayment of bank savings to depositors in case of bank bankruptcy and liquidation of their license to accept deposits.
The Fund fully covers deposits amounting to 30,000 manats. The maximum insured annual rate is 9%. -17D-
Economics
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In a strategic move to bolster mechanisms against financial crimes and terrorism financing, Azerbaijan's Deputy Prime Minister, Samir Sharifov, has been appointed as the head of the newly restructured Coordinating Council on Counter-Terrorism Financing and Other Financial Crimes.
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The Chairman of Azerbaijan Railways CJSC, Rovshan Rustamov, and the head of Iranian Railways, Jabbar Ali Zakeri Sardrudi, convened in Tehran during the Joint Azerbaijani–Iranian Intergovernmental Commission meeting to bolster cooperation on the Astara terminals, key nodes in the International North-South Transport Corridor (INSTC). The talks centered on enhancing the operational efficiency and strategic significance of these terminals to facilitate growing cargo volumes between the two nations.
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Azerbaijan is accelerating its transition to green energy through the coordinated efforts of its "Green Energy Zone" task force, which recently held its latest hybrid meeting to review progress and outline future priorities. The Ministry of Energy, reporting on Wednesday’s session, emphasized the task force's central role in implementing the 2022–2026 Socio-Economic Development Strategy, a cornerstone of Azerbaijan’s ambitions for sustainable growth.
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AzerGold, Azerbaijan’s state-owned mining company, is pursuing opportunities for strategic collaboration with Turkish firms in Africa as part of its efforts to expand its presence in the global mining sector. Recent talks between Zakir Ibrahimov, Chairman of the Board of AzerGold CJSC, and Şebnem Cenk, Head of the West and Central Africa Department at Turkey's Ministry of Foreign Affairs, highlighted the potential for a mutually beneficial partnership.
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