Azerbaijan’s Chamber of Accounts should audit ADIF’s work: MPs
Baku, Azerbaijan, Nov. 7
By Azad Hasanli – Trend:
The Chamber of Accounts of Azerbaijan should audit 500 million manats allocated to the Azerbaijan Deposit Insurance Fund (ADIF), said the Azerbaijani MPs.
The MPs noted that about 43,000 depositors of Bank Standard have not been able to return more than 150 million manats so far. The MPs also said that they receive hundreds of complaints from the depositors of the bank in connection with this problem.
In 2016, the Central Bank of Azerbaijan allocated a loan worth 500 million manats to ADIF for paying compensations to depositors of closed banks in the country.
Eleven banks went bankrupt in Azerbaijan since 2016. According to ADIF, compensations worth 750 million manats have been paid to the clients of these banks, including almost 440 million manats paid to Bank Standard depositors.
(1.7003 manats = 1 USD on Nov. 7)