The liquidator for the failed banks Qafqaz Inkishaf Banki and Atra Bank has been appointed. As reported by Turan with reference to the Fund, on August 16, Baku Administrative-Economic Court declared the bankruptcy of the above banks.
According to the court, the Deposit Insurance Fund was appointed the liquidator.
Qafqaz Inkishaf Banki functioned on the basis of the license obtained from the Central Bank of Azerbaijan on 7 April 1997.
The bank's shareholders are natural persons owning 100% of the shares.
Atra Bank JSC, established in December 1992, initially functioned as a joint stock commercial bank ATRA. Its activity as JSC Atra Bank continued from August 29, 2005.
The licenses of Qafqaz Inkişaf Banki and Atra Bank were withdrawn on 27 January 2016 in connection with the failure of the banks to meet the minimum capital requirements and obligations to the creditors. -71D--
Economics
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