Depositors of former "Bank Standart" held rally in front of CBA

Baku/06.06.23/Turan: Depositors of the "Bank Standart" liquidated in 2016 held a protest rally in front of the Central Bank of Azerbaijan (CBA) on June 6. They demanded the return of their deposits.

The protesters had deposits in the amount of more than 30.000 manats. At that time, deposits over 30.000 manats were considered uninsured.

"Since 2016, we have been told that "you are on the lists, wait for your turn." 7 years have passed, when will it be our turn? Banks have failed due to the distribution of interest-free loans to officials. Why should we suffer because of this? The state was obliged to control the banks," said one of the participants of the action.

Representatives of the protesters were invited to the CBA.

It is to be recalled that "Bank Standard" CJSC was deprived of its license in September 2016 by the decision of the Board of Directors of the then existing Chamber for the Control of Financial Markets.

"Bank Standard” was one of the largest banks. The funds were returned to depositors with insured deposits (up to 30.000 manats). The remaining creditors were told that the funds would be returned after the sale of the bank's assets. -021D06-