Azerbaijan Deposit Insurance Fund has become liquidator of DemirBank


December 28, Fineko/ The Deposit Insurance Fund of Azerbaijan (ADIF) has become the liquidator of DemirBank OJSC.

The Fund reports that ADIF became a liquidator in compliance with the relevant decision of the Baku Court of Appeal from 27 December 2017, which announced DemirBank a bankrupt and ruled the beginning of the procedure of liquidation of the Bank.

The Financial Market Supervision Chamber declared about cancellation of Bank’s license since 23 December in connection with non-conformity of capitalization and non-compliance with their obligations to clients.



Keywords: ADIF DemirBank