OREANDA-NEWS. October 14, 2009. The Azerbaijan Deposit Insurance Fun (ADIF) has reported of growth of population’s confidence to commercial banks.

ADIF executive director Azad Javadov says that this year individuals’ deposits with interest rates not subjected to ADIF insurance has increased by 60%.

“Currently speech is of such kind deposits for AZN 600 million that demonstrates rise of trust to banks – depositors do not expect risk from placement of their money in banks and do not need in insurance.

Simultaneously banks themselves increase their deposit rates,” Javadov said.

The ADIF insures deposit finances with rate of no more than 15%.

“The matter of possible increase of deposit rate subjected to insurance will be solved on the basis of levels of deposits. There are depositors who cannot receive insurance and there are deposits with rates not subjected to insurance,” Javadov emphasized.

Presently insurance coverage covers the deposits with sum of AZN 1.377 bn with their overall volume of AZN 1.98 bn.