Azerbaijan, Baku /corr. Trend I.Khalilova / As a result of diagnosis check-ups, sanctioned by the Board of the National Bank of Azerbaijan (NBA), three banks were rejected the right to accept community deposits from 1 February. Rufat Aslanly, Deputy Chairman of the NBA Board, stated that a resolution to restrict banking licenses was adopted after assessing the bank's assets and capital. I.Khalilova / As a result of diagnosis check-ups, sanctioned by the Board of the National Bank of Azerbaijan (NBA), three banks were rejected the right to accept community deposits from 1 February. Rufat Aslanly, Deputy Chairman of the NBA Board, stated that a resolution to restrict banking licenses was adopted after assessing the bank's assets and capital.
The assessment revealed that the 3 banks did not fulfill the NBA's standard requirements for aggregate capital as from 1 January 2007. They did state, however, on fulfilling the standard requirements, the real amount of their aggregate capital fluctuated from 3.5mln manats to 5mln manats.
According to the NBA's requirements, as from 1 January 2007, the aggregate capital of banks should not be less than 8.2mln mantas, a requirement that was not fulfilled by the 3 banks.
Aslanly said the banks, due to technical faults, had failed to place their stock and therefore their data was not included in the database.