Azerbaijan Deposit Insurance Foundation
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Native name | Azərbaycan Əmanətlərin Sığortalanması Fondu |
|---|---|
| Company type | Deposit insurance fund |
| Industry | Finance |
| Founded | February 9, 2007 in Baku, Azerbaijan |
| Headquarters | , |
| Website | www |
The Azerbaijan Deposit Insurance Foundation (ADIF, Azerbaijani: Azərbaycan Əmanətlərin Sığortalanması Fondu) is the Azerbaijani deposit insurance entity that is responsible for preventing the risk of deposit loss of individuals in the event of loss of solvency by banks or branches of foreign banks, ensuring the stability and development of the financial and banking system of the Republic of Azerbaijan.
The Foundation was established by the order of the President of Azerbaijan dated February 9, 2007 "On approval and introduction of the Law “On Deposit Insurance””, adopted by the National Assembly of Azerbaijan on December 29, 2006.[1]
The Foundation's main activities are collecting insurance premiums from banks, ensuring the safety of the fund's cash deposits, and, in some cases, paying insurance amounts to depositors.