Baku, Azerbaijan, April 18
By Anvar Mammadov – Trend:
Azerbaijan Deposit Insurance Fund (ADIF) will start payment of compensations to the last remaining uninsured depositors of Azerbaijan’s Royalbank OJSC on April 23, the ADIF said in a message April 18.
The payments will be carried out in the non-cash form. The process will take place in the administrative building of ADIF at the following address: Babak Ave., 16, Baku.
The Central Bank of Azerbaijan (CBA) revoked Royalbank’s license July 12, 2012.
By the decision of the Baku Administrative-Economical Court No. 1 dated July 25, 2012, Royalbank OJSC was declared bankrupt. Azerbaijan Consulting Company LLC was declared the liquidator of the bank.
In September 2016, ADIF was appointed the bank’s liquidator.