talks on decision over blocked deposits of liquidated banks in Azerbaijan

talks on decision over blocked deposits of liquidated banks in Azerbaijan


BAKU, Azerbaijan, July 30

By Eldar Janashvili – Trend:

Decision about the blocked deposits of liquidated banks in Azerbaijan is expected to be made during the upcoming week, Chairman of the Board of the Central Bank of Azerbaijan (CBA) Elman Rustamov said.

Rustamov made the remark at a press conference, Trend reports.

According to the chairman, Constitutional Court in Azerbaijan held meeting in connection with the blocked deposits in four previously closed banks.

Illegal acceptance of deposits in the closed banks occurred without CBA’s control, he said.

Rustamov said that the banks sign a contract with the population on such terms that they actually receive the status of savings deposit.







“We believe it’s not the population’s fault. The bank owners are guilty, and the rights of citizens must be restored. The Constitutional Court is dealing with this matter. The internal processes are underway. More than 1,300 people will have access to deposits worth 62 million manat [$36.4 million],” he said, expressing hope for a favorable outcome of the court’s decision.

(1 USD = 1.7 manat on July 30)

Follow the author on Twitter: @eldarjanashvili



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