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Azerbaijan Deposit Insurance Fund to sell properties of liquidated banks at auction

22 July 2016 10:45 (UTC +04:00)

Baku. Yegana Lachinzade - APA-Economics. Azerbaijan Deposit Insurance Fund (ADIF) is going to sell the properties of DekaBank, KredoBank, Parabank and Zaminbank, the licenses of which were revoked by the decision of the country’s Financial Market Supervisory Body dated July 21, 2016, ADIF Executive Director Azad Javadov told reporters.

ADIF is the liquidator of the abovementioned banks.

In this regard, a new website (emlak.adif.az) will be created, according to Javadov.

“The banks have few larger properties, the prices of which will be determined by international appraisal companies,” said the ADIF executive director, adding that the properties will be put up for auction.

He also said that the properties of failed banks can be also rented.