MP: Return of deposits to begin in next few days


August 11, Fineko/abc.az. The Constitutional Court announced its decision on blocked deposits. Deposits accepted after applying the corrective measure, increased in volume and changed in terms of time, are considered protected deposits.

ABC.AZ reports that this statement was made by MP Vugar Bayramov said.

He noted that the corrective measure provides for the decision of some banks to ban the acceptance of deposits. In other words, deposits withdrawn after the ban on accepting deposits in bankrupt banks are considered protected.

"We remind that, although NBC Bank, AG Bank and ATA Bank accepted deposits from the population, despite the ban, and this money was blocked after these banks were declared bankrupt. This means that the Constitutional Court has decided in favor of our citizens. Speech is about the return of deposits of more than 1,300 of our citizens in the amount of AZN 62 million.

The decision also notes that the bank deposit agreement is considered concluded from the moment the depositor transfers the deposit to the bank and must be accepted as a preliminary (main) agreement. The date of migration of savings agreements cannot be considered the time when the deposit agreement was concluded. This is an issue related to Atabank, declared bankrupt. Thus, after some branches of the bank were closed, deposits were transferred to another branch. The court also clarified this issue.

It is assumed that after this decision, the time associated with the return of deposits will be determined in the next few days, and the return of deposits will begin in the near future. It is expected that the ADIF will inform citizens about this."