The shareholders of the insurance company Azerqarant decided to liquidate the company, told Turan the chairman of board Rashad Mammadov.
Mammadov said the main reason for the closure of the company is the situation with the commercial banks.
"Most of our equipment was placed in the form of deposits in Atra Bank. After its closure, we began to experience problems with the capital, "he said.
At the same time Mammadov noted that they could find the funds for further work, but lack of confidence in the banking system forced them to take extreme measures, such as the elimination.
"Ten banks were closed in 2016. We do not trust the banking system. We could find a means and place them in some bank. But what if suddenly the bank is also closed? So we decided to no longer function," he said.
According to him, they have already sent a letter to the Financial Markets Supervision House.
Azerqarant functioned since 1997. The company employed 12 employees. The company's authorized capital amounted to 5 million 610 thousand manat. ---71B
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