In 2009, the volume of the deposit portfolio covered by the Azerbaijani Deposit Insurance Fund (ADIF) comprised 1.495 billion manat, the ADIF reported. Total deposits volume of individuals hit 2.17 billion manat of which 674.885 million manat fell to non-insurance deposits. The number of the ADIF depositors hit 5,077,670
Calendar payments from the member-bank of the fund totaled 711,000 manat, 1.224 million dollars, 158,000 euros in the fourth quarter of 2009. To date, 42 banks are members of the fund. Total revenues hit 18.165 million manat including one-time membership fee, paid when joining the fund's register
The ADIF launched its operations on Aug. 13, 2007. Since Jan. 1, 2009, the fund has not insured deposits at the ADIF member-banks at an annual percentage above 15 percent and compensation for them is not envisaged. Currently, an upper bracket of insurance coverage on deposit is 30,000 manat. For the insurance of their deposits, depositors do not make any payments, and insurance payments are made only by banks./Trend/