Expert: Deposit Insurance Fund conducts non-transparent activity


February 18, Fineko/abc.az. There are some games going on in the issue of non-return of money of persons who had deposits at bankrupt Bank Standard.

Banking expert Ekrem Hasanov told on the occasion in an interview for ABC.AZ, when commenting on the process of returning Bank Standard deposits to clients.

He noted that depositors' money are not paid due to the fact that loans given by the Bank are not repaid. Stressing that Deposit Insurance Fund’s (ADIF) activity is absolutely non-transparent, justified this in the following way: "We’re talking about loans in the total amount of about AZN 800 million.

90% of them were given to 100 people. ADIF does not demand the return of large loans, but tries to return small loans. Because behind those large loans are quite influential people from whom ADIF does not want to demand money.

The Fund neither sues them, nor wants to make their names public - there are some behind-the-scenes cases going on here. Those loan debts are only supposed to be written off. I myself have repeatedly demanded from ADIF to tell me who they gave the money or credited to. But they hide, they don't tell. On the contrary, the Fund is engaged in donating some debts and even does not hide that. I don't know why, but debts are falling. Sometimes the Fund goes for an illegal replacement if the money are not repaid."