Revoked license of Farmer Credit Union

Azerbaijan’s Central Bank revoked the license of the non-bank credit organization Farm Credit Union. Registered in Gusar, it has lost the right to provide financial activities for violation of licensing rules.

According to statistics from the Central Bank on July 1 this year, the total authorized capital of non-bank credit organizations amounted to 79,680,000 manat compared to the AZN 84.44 million by April 1st. With regard to the assets of non-bank credit institutions, they grew, reaching 579,310,000 manat by the early 3rd quarter (+ 28 180 000 AZN against April 1). -17D-

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