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SOFAZ: Azerbaijani government once more demonstrated that it does not make difference between local and foreign investors

“International Bank of Azerbaijan was in a difficult situation. Taking this into account, the Azerbaijani government decided to restructure it”, SOFAZ Executive Director Shahmar Movsumov told Kazinform agency.

“I know that Kazakhstan also had money in this bank. SOFAZ’s moneys are also in this bank. As a result of restructure, SOFAZ and other foreign investors faced losses. 20%^ of deposits in bank has been written off, however, Azerbaijani government once more demonstrated that it does not make difference between local and foreign investors”, Movsumov said.  

 

He added that restructuring process shows that the majority think this is a fair process.

 

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