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ADIF plans to conduct auctions on an electronic platform

08.04.2021,17:54


April 8, Fineko/abc.az. One of the functions of the Azerbaijan Deposit Insurance Fund (ADIF) is the sale of assets in accordance with the procedure provided for by law, in order to accelerate the process of liquidation of banks and the fulfillment of their obligations to creditors.

The ADIF informs that for this reason, the most transparent and suitable for ensuring sales that meet modern standards is the auction mechanism.

In accordance with modern requirements the ADIF plans to conduct auctions on an electronic platform.

Applying the new approach, the Fund will accelerate the repayment of the obligations of banks in the process of liquidation to creditors in accordance with the procedure established by law, as well as provide buyers with convenience from angle of time and space.