License of Baku branch of National Bank of Pakistan canceled

16:46 - 13.10.2022

October 13, Fineko/abc.az. The Central Bank of Azerbaijan, based on the appeal of the National Bank of Pakistan, has cancelled the banking license issued to its Baku branch on 30 June 2005.

ABC.AZ reports  that this was announced by the Central Bank.

This decision was made within the commercial strategy of the National Bank of Pakistan to enter the financial markets of Central Asia and Azerbaijan.

When making a decision on voluntary liquidation of the license, the branch's ability to fulfill its obligations based on the liquidation plan and the financial statements presented was taken into account.

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