The present Law according to Item 15 of part 1 of article 94 of the Constitution of the Azerbaijan Republic establishes legal and economic basis of the clearing settlements made in the territory of the Azerbaijan Republic.

The present Law establishes organization-legal bases of indexation of cash incomes and savings of citizens in the Azerbaijan Republic in connection with increase in prices for consumer goods and rates for paid services (further - consumer prices).

The present Law determines the main directions and the principles of development of system of insurance, activities of professional participants of the insurance market, including insurers, overcautious persons, insurance intermediaries, and also legal and economic basis of regulation and control in insurance field.

The present law determines rules of creation and action of system of collective compulsory deposit insurance of physical persons, and also payments of compensations for deposits in the banks performing activities in the Azerbaijan Republic.

The present Law determines the principles, rules and regulations of the organization, internal management, regulation of activities and liquidation of banks for the purpose of the most full compliance of the legal base of bank system to international standards, increases in role of banking services in economy, strengthenings of protection of bank investors and creditors and ensuring in general stable and safe activities of bank system.