Depositors of the bankrupt "Bank Standart" held a protest action in front of the CBA

Baku / 17.08.20 / Turan: Investors of the bankrupt "Bank Standart" held a protest today in front of the building of the Central Bank of Azerbaijan (CBA). They demanded the return of their missing funds.

After the bankruptcy of this bank was declared, deposits of up to 10 thousand dollars were returned.

People are outraged that most of the bank's funds were distributed in the form of unsecured loans to 153 large clients. These 153 clients received 80.3% of all funds in the bank.

“These are high-ranking officials and their relatives. 100 million manats were given to the brother of the presidential aide Shahmar Movsumov. The owner of the Riyadh shopping center Ilgar Aliyev took 25 million.

Why are none of the bank's management or major recipients of loans arrested?

When we complain to the prosecutor's office, we are told where did you get the money? Why is the prosecutor's office not interested in those who issued large loans without collateral and those who did not return this money? ”said one of the protesters.

Shahin Ahmedov, Chairman of the Depositors' Committee, told Turan agency more than 10 thousand Azerbaijanis did not receive their money from "Bank Standart" in January this year. Among them are those who invested up to 30 thousand dollars - 400 people.

During the protest action, the CBA did not come out to the protesters. They were recommended to go to the Deposit Insurance Fund.

"Bank Standart", one of the largest financial institutions in Azerbaijan, was declared bankrupt in October 2016. — 030D-