BAKU, Azerbaijan, May 23. The volume of loans provided by the Central Bank of Azerbaijan (CBA) to the Deposit Insurance Fund amounted to 163.9 million manat ($96.7 million) as of January 1, 2025.
The data obtained by Trend from the CBA shows that this figure decreased by 52.5 million manats ($31 million), or 24.3 percent, compared to the same period in 2024 (216.4 million manats, or $127.7 million).
To note, the fund was established by the order of the President of Azerbaijan dated February 9, 2007, "On approval and introduction of the law “On deposit insuranc”e, adopted by the Parliament of Azerbaijan on December 29, 2006.
The fund'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.
The Central Bank (previously known as the National Bank) was founded in the Republic of Azerbaijan by a decree from the President on the 'Establishment of the National Bank in the Republic of Azerbaijan' dated 11 February 1992. A legal framework enables the Central Bank to more effectively fulfill its objectives and functions across all operational domains, delineating its primary responsibilities: formulating and executing monetary and exchange rate policy, overseeing currency circulation, regulating and advancing centralized interbank and other licensed payment systems, and managing gold and foreign exchange reserves.
