Expert: Such a crisis as bankruptcy of Bank Standard has never been so far


October 3, Fineko/abc.az. There has never been such a large crisis as the bankruptcy of Bank Standard in the world history.

Expert economist Ekrem Hasanov informed about this news to news agency ABC.AZ, when commenting on the situation of the bankruptcy of the Azerbaijani bank.

Mentioning the factors that bankrupted Bank Standard, the expert pointed out how the crisis situation was created in the Bank due to the fact that loans were given to all and sundry.
"Loans are given in large quantities. Only imagine, loans for 10 and 15 million manats were given and it is not known to whom. And they don't even return the money. Some of those who receive large sums of money are close friends of large governmental officials. The Deposit Insurance Fund also does not take appropriate measures, does not file a lawsuit against borrowers. Law enforcement agencies do not react to the majority of such cases, do not take any measures. Unfortunately, those money are not returned to make both people and companies to take back their money. And those persons do not file a lawsuit, even the court list is hidden. So, there is something wrong," the expert believes.
Author: Elmir Murad

Keywords: Bank Standard