Bank depositors ask the president to return uninsured deposits

Baku / 14.03.19 / Turan: On March 14, about 30 depositors of the bankrupt Bank Standart held a protest action outside the building of the Presidential Administration of Azerbaijan. They demanded to return their financial investments, raised photos of Presidents Heydar Aliyev and Ilham Aliyev and posters asking President I. Aliyev to help them with the return of invested funds. Police demanded to remove the posters, citizens

were not dispersed, and the protesters were interviewed by the media. Citizens complain to the President about the Deposit Insurance Fund and the Financial Market Supervision Chamber, which, in response to citizens' appeals, sent a reply containing quotes from the laws. Approximately 757 million manat remained in the bankrupt bank, owned by about 45 thousand local and foreign individuals.

By the decision of the Baku Court of Appeal, the return of invested funds to citizens is carried out by the Deposit Insurance Fund (DIF), which has returned part of the money insured to the DIF. The remaining uninsured funds are not returned. Citizens are asking the president to intervene to solve this problem. The fight of the depositors of the Bank Standart for the return of funds has been lasting for the second year.

On the same day, the depositors of the Royal Bank, who also demanded their money, gathered at the Administration. The depositor Ramiz Sadikhov told Turan, the Appeal Court of Baku decided to return 20 thousand manats, but the bank evades the execution of the court decision.

In a conversation with Turan, Arzu Askerova said that on the eve of the closure of the Bank Standard wanted to take its money from the sale of an apartment in another country. But she was informed that the bank had received a large sum "for recovery" and therefore her money would not be wasted. But Bank Standart has closed. Where did the money for recovery" go? We filed complaints with the Supreme Court after three failures in lower courts. If we do not achieve justice, we will appeal to the European Court of Human Rights, but this development is undesirable," added Askerova. She has no means of livelihood, she is unemployed, has sold all the gold and lives on the money she earned, hoping to achieve the return of the amount invested in the bank.

50 thousand dollars of Larisa Polejayeva"s daughter, earned to pay for her studies in England, disappeared from Standart Bank. "Courts refuse us under the pretext that our deposits are uninsured. We are not guilty of the fact that the bank management issued loans at zero interest. If they have no funds in their accounts, let them sell buildings and other property and pay us," demands Polejayeva.

Representatives of citizens were received by the responsible official of the Administration, who told the citizens that customers of ten Azerbaijani banks appeal to them with similar complaints. "Complaints are being considered, if a decision is made on them, it will affect the clients of all closed banks," said Ayaz Mammadov, a former client of the Standard Bank. -0-