The Deposit Insurance Fund performing the function of liquidator of failed banks appealed to the General Directorate for Combating Corruption under the Prosecutor General's Office, the Fund said.
The reason for this was to identify the illegal activities of the leaders of several banks before revocation of the license.
The Fund revealed that in several cases money received from the sale of property of the bank's clients was not mainly directed to cover the credit debt. In addition, a large number of loans under false signatures were issued for people, which did not apply to the bank for any loan.
We note that in its report the Fund does not name a specific individual or a bank.
Recall that at the stage of liquidation are Royal Bank, Bank of Azerbaijan, Tekhnika Bank, Zamin Bank, Para Bank, Deka Bank, Credo Bank, Atra Bank, Qafqaz Inkisaf Bank, and Bank Standard. -----71D
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review