Baku, Azerbaijan, Feb. 26
By Anvar Mammadov - Trend:
The Anti-Corruption General Directorate under the Azerbaijani prosecutor general and Azerbaijan Deposit Insurance Fund (ADIF) provided unsecured loans issued by Bank Standard CJSC with collateral worth 55 million manats, ADIF Deputy Chairman Vugar Abdullayev said at the meeting of creditors’ committee of the bank in Baku on Feb. 28.
He added that some loans were issued without collateral, but Anti-Corruption General Directorate jointly with the ADIF managed to provide those loans with collateral.
Abdullayev also stressed that Bank Standard’s property is currently being sold.
"To date, 400,000 manats have been received from the sale of Bank Standard's property,” he said. “The auctions have been recently launched, so the amount received from sales is not very big."
He said that in general, to date, ADIF paid compensations worth 437 million manats to Bank Standard’s insured investors.
"Of this amount, ADIF managed to return 80 million manats due to returned loans, sale of property and other actions prescribed upon the law," Abdullayev said.
(1.7001 AZN = $1 on Feb. 28)