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Baku/17.05.23 /Turan: The decision of the Central Bank of Azerbaijan to revoke the license of the commercial "Gunaybank" was a thunderbolt out of the blue and once again reminded of the shakiness of the banking system. This is the opinion of experts in the field of finance. So, an expert in this field Ekrem Hasanov told the Turan news agency that there were no objective grounds for revoking the license.
"The closure of the bank is connected with the monopolization of the banking sector in Azerbaijan. It was a small bank. The Central Bank's information says that the closure of this bank does not create any problems for the banking system. But if this is the case, then why should it be closed?", says Hasano.
"The formal reason is that the bank has not increased the authorized capital from 5 to 50 million mana, as required by law. However, "Gunaybank" did not create risks and it has no problems or court cases with depositors or clients. But many large banks have enough such problems.
A few years ago, the former head of the Central Bank unexpectedly decided to increase the authorized capital of banks from 5 to 50 million manats. This served to destroy the competitive environment in the banking sector and strengthen monopolism. After that, more than 60% of banks closed.
According to Hasanov, the insured deposits of the bank will be compensated by the Deposit Insurance Fund. "The rest of the money is not insured and belongs to entrepreneurs and companies. This money will either be partially refunded, or it will not be refunded at all.
The Fund will have to sell the bank's property and return the loans issued by the bank. That is, he must turn all the assets of the bank into money. After that, the money will be distributed among creditors.
The first creditor is the Fund itself, which will first return to itself the 38 million that it gives for insured deposits. The Fund will then take on the costs of the liquidation process. What remains after that will be returned on uninsured deposits, the expert believes.
The expert believes that the Central Bank's decision to liquidate "Gunaybank" is a signal to depositors to take money from small banks and transfer it to large banks.
Recall that large banks are under the direct control of the country's leadership. ---03B---
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