One of closed banks in Azerbaijan eyes to restore license

Baku, Azerbaijan, Oct. 5

By Azad Hasanli – Trend:

The Supervisory Board of Dekabank will appeal to the Baku Court of Appeal on Oct. 7 against the decision to close down the bank, said the message posted on the website of the court of appeal.

The license of Dekabank was revoked July 21, 2016 because its total capital didn’t meet the minimum requirement of the regulator [50 million manats], as well as due to the bank’s failure to fulfill commitments to creditors, the regulator’s instructions, etc.

On July 24, based on the appeal by Azerbaijan’s Financial Market Supervisory Body in the court, it was decided to liquidate the bank and appoint Azerbaijan Deposit Insurance Fund as its liquidator.