It will take 10 working days to complete the payment of compensation to depositors of the bankrupt JSC Bank of Azerbaijan.
As the head of the Azerbaijan Deposit Insurance Fund (ADIF) Azad Javadov told reporters, ADIF has already paid more than 9 million AZN to more than 430 depositors of the bank.
Totally on the bank 24 million mantas has been paid. Payments are made in the branches of Mugan Bank and Rabita Bank appointed the agent banks.
OJSC Bank of Azerbaijan began operations under the name Rabbat Bank on December 1, 1993. In 1998, it became Ish Bankasi Azerbaijan. In 2004 the bank became a JSC.
The bank’s owners are members of the family of the President of Baghlan Group Azerbaijan Hafiz Mammadov. Shareholders of Bank of Azerbaijan are his sons Kanan Mammadov (43.63%) and Sanan Mammadov (43.63%), his brother Mubariz Mamedov (12.07%) and NEM Holding (0.67%). --17D-
Economics
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