Bank Standart announces the order to return of customers money

Clients of the JSC Bank Standart  at the first stage may withdraw from the accounts without restrictions up to 30.000,  reads the information posted on the website of the bank.

According to the  document,  on 3 August ended  term of  temporary administration of the bank appointed  by the Chamber to Control  the financial markets.

Since August 4, with the state support has begun the first stage of rehabilitation of the bank due to liquidity problems arising from the bank.  At this stage is proposed unlimited payments to individuals on current accounts (plastic cards) and funds on deposit accounts, which expires in 2016 in the amount of 30.000 manat (or equivalent in foreign currency.) Several proposals  on the amounts exceeding 30.000  manats (or equivalent in foreign currency) on  the current accounts are considered  (plastic cards), as well as the balances of time deposits, expiring in 2016. The customers will be informed on these  proposals later.

 An action plan will be developed in the second phase rehabilitation program scheduled for 2017 On deposits that expire after 2016. This plan will be presented before the end of 2016.

As part of the recovery program  are recovered cards "Bank Standard", both within the country and abroad. Operations on the current accounts of legal entities  can be carried out without restrictions.

Improvement  of the bank is carried out by JSC "Azer-Türk Bank".

On August 3took place an extraordinary meeting of shareholders of JSC "Bank Standard", which re-formed compositions of the Supervisory Board, Audit Committee, and changes have been made in the ruling. Chairman of the Board has been appointed Khalid Ahadov. -06D-