15:54 - 17.05.2023

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May 17, Fineko/abc.az. "The Central Bank revoked the license from Günay Bank. The legal entity froze 1,950 manats, which are on our current account. Rather, they are gone..."

ABC.AZ reports that expert economist Samir Ismayil wrote about this in his account on the social network.

He noted that there was similar practice in previous years: "In banks liquidated in previous years (ATA, AG, NBC, Standard, Demir, Amrah), 100 million mantas disappeared from legal entities. More than 3 years have passed, the Deposit Insurance Fund does not remember about this money. How does this happen? The CBA has the right to close commercial banks at any time. But no guarantees are provided for the funds stored in the current account of legal entities and for the deposits they place. The conditions for cashing out are also being tightened and limited."

The expert said that the presence of finances in the account of a legal entity does not mean that this legal entity still has funds: "These funds have several purposes. If the funds held in the account of a legal entity disappear in a bank whose license has been revoked, how can this legal entity fulfill its obligations to the 3rd party?"

Ismayil also added that 5,500 manats remained in banks closed in 2020: "We wrote a letter, in response they said that the issue of providing funds that are in the account of the Board of Trustees is not yet being considered. Deposits, taxes, etc. are paid first. There is a company that has 72 million manats left in Standard Bank."