Baku, Azerbaijan, Oct. 6
By Anvar Mammadov Trend:
Azerbaijans Bank Standard JSC has been declared bankrupt according to the decision, dated Oct. 4, 2016, of the countrys Baku Administrative-Economical Court No1, said the Azerbaijan Deposit Insurance Fund (ADIF) in a message posted on its website Oct. 6.
The message said that ADIF has been appointed the banks liquidator.
Bank Standards license was revoked on Oct. 1, 2016, according to the decision of the Board of Directors of Azerbaijans Financial Market Supervisory Body.
The decision on Bank Standards closure was made on the basis of the appeal of AzerTurkBank, a bridge bank of Bank Standard, and Bank Standards new management.
Bank Standard was created in 1995….
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