The Central Bank of Azerbaijan has abolished the license of Azerbaijan Credit Bank.
CBA said on July 15 that the license was liquidated by Decision No 27 of the Board of the Central Bank due to the failure to comply with the requirements for the minimum amount of authorized capital (50 million AZN) and the inability to meet its obligations to creditors.
The decision comes into force on 16 July this year.
CBA notes that there are no threats to the population's deposits in Azerbaijan Credit Bank. And for their return, the bank has the necessary liquidity.
At the moment, the depositors' funds are being returned. -0-
Economics
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