The meeting of shareholders of the insurance company Bashak Inam Sigorta will be held on April 4, the company announced.
The meeting agenda will include the voluntary liquidation of the company.
The Deputy Chairman of the Board of Bashak Inam Sigorta Vagif Bakhshiyev told Turan the cause of liquidation of the company was the closure of two banks – Zamin Bank and Ganja Bank.
“Zamin Bank was our founder. Our means were in the two banks. When they closed, our company could not meet the requirements of the Financial Markets Supervision Authority (FIMSA) and the legislation on aggregate capital, which was to make at least 5 million manat,” he said.
The planned liquidation of the insurance company Bashak Inam Sigorta in February was reported to the media by the head of the FIMSA Board of Directors Rufat Aslanli, who noted that the consent had been already given.
Recall that the licenses of Zamin Bank and Ganja Bank were canceled in 2016.
It should be noted that the joint Turkish-Azerbaijani company was established in 1996. From the Turkish side, it was founded by Bashak Sigorta, and from the Azerbaijani side – by the re-insurance company Inam established by the International Bank of Azerbaijan, Turan Bank, and Agrarkredit.
The authorized capital of the company amounted to 7 million manat. ----71D
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