ADIF to pay compensations to remaining uninsured depositors of GanjaBank

8 April 2019 13:37 (UTC+04:00)

By  Trend

Azerbaijan Deposit Insurance Fund (ADIF) will start payment of compensations to the last remaining uninsured depositors of Azerbaijan’s GanjaBank OJSC on April 15, Trend reports April 8 with reference to the ADIF.

GanjaBank has been in the liquidation process since 2016.

Creditors can submit their claims in Ganja city at 260 Ataturk Avenue, and in Baku at 16 Babak Avenue.

For more information, please call:

(+994 22) 256-04-93 / (+994 22) 256-03-44 (in Ganja)

(+994 12) 596-65-91/92/93 (In Baku)

Hotline number: 941

The Central Bank of Azerbaijan (CBA) revoked GanjaBank’s license in January 2016. This decision was made because the total capital of the bank didn't correspond to the CBA's minimum requirement of 50 million manats.

The bank also couldn't fulfill its obligations to creditors. By the decision of the Baku Administrative-Economical Court No. 1 dated February 15, 2016, GanjaBank OJSC was declared bankrupt. ADIF was declared the liquidator.


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