Azerbaijani Parliament amends law on insurance of deposits

The amount of compensation for protected deposits of individuals in Azerbaijan is set in the amount of 100,000 manat or $58,823, e-huquq.az reports.

This issue was reflected in the amendment to the law ‘On full insurance of deposits’ discussed at a plenary session of the Parliament of December 11.

This law, which was in force for 4 years and 9 months, expired on December 4, 2020. The submitted draft proposes to extend the law's being in force until April 5, 2021.

After discussions, the amendments to the law were put to a vote and adopted in the first reading.