Interbank parachuted in Bank of Baku

The Chairman of the Supervisory Board of JSC Bank of Baku and owner of 10 percent of its shares Elchin Isayev has been deposed.

As stated in the bank, according to the decision of the shareholders appointed the position CEO of International Bank of Azerbaijan Elmir Gabibullaev. In this Elchin Isayev appointed Chief Advisor to the Chairman of the Supervisory Board.

Earlier this month, mass media reported about the arrest of the chairman of the Supervisory Board of Bank of Baku Elchin Isayev. Later Isayev denied the arrest and added that he had a reasonable suspicion of illegal entry in the bank, and on the basis of its appeal MNB had a proper check. As a result of the audit , it was found that a number of persons illegally entered into the operating system of the bank.

According to some reports the investigation conducted in connection with the Iranian and trace illegal money laundering, particularly in community with himself Reza Zarrabi. In particular, according to the portal haqqin.az, the owner of Bank of Baku is the husband of the sister of the Iranian Azerbaijani Zarrabi Rza, Shahram. Owner of the bank was also involved in money laundering in Iranian Azerbaijan, which attracted the attention of the Azerbaijani special services.

Suspicion of money laundering and assistance to Iran from several Azerbaijani banks, including Bank of Baku, in a secret correspondence at the time was expressed by the former U.S. Ambassador to Azerbaijan Anne Derse. In particular, in one of the service messages to Washington the former ambassador noted , "The Iranian contact said that his friend had recently witnessed the transfer from Adil Shahrabiani ( former manager of Bank Melli Iran) of $ 5 million in cash " from Iran " to the Bank of Baku, which was not registered in books . "

Recent developments around the Bank of Baku repeated events of two years ago , then unfolded around Texnika Bank. In early 2012, senior officials headed by the chairman of the Supervisory Board and shareholder of the bank were taken to custody. After that, the bank's shareholders renewed the board and the supervisory board , which included senior officials IBA.

It is noteworthy that while the former chairman of the then Texnika Bank and a number of leaders have to sit their multi-year sentences , the chairman of the Supervisory Board of the case was sent to a separate proceeding with the change of measure of restraint on his own recognizance , and the trial continues. But during that time he managed to lose 15 % of its shares, which were distributed among the three individuals included in the shareholders. Also shares in the main shareholder (75% stake in the share capital) to a private company WorldWines was bought up by the Luxembourg registered corporation Beafourd Investissements, while Kazimir CaspianFund Limited remained at its 10 percent.

According to the latest prospectus "Bank of Baku" its shareholders are two individuals and three entities , including Nab Dish Ticaret ( Turkey) (40 % in the share capital ) , the oil company LLC Azpetrol (28.89% ) of the brother of the disgraced minister Farhad Aliyev, former president and majority shareholder in Azpetrol Rafiq Aliyev ( 11.22% ) , Elchin Isayev (10% ) and LLC Azinvest (9.9%). -15B-