Bank Of Baku

Judgment proceedings between AXA MBASK and Debut Bank continues

Judgment proceedings between AXA MBASK and Debut Bank continues
# 18 January 2011 12:15 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Baku Economic & Administrative Court #1 has adopted a declaration about Debut Bank, which unlicensed by Central Bank of Azerbaijan.

According to AXA MBASK the sides must come to an agreement in a month, about paying off AZN 50 000, invested by Company in Debut Bank, in accordance to the declaration: “Otherwise, the company will have to sue the bank”.

MBASK has been in operation since 1992. The company operates 29 insurance types.

Owned by several individuals Debut Bank had been in operation since 1994. The bank operated 7 branches.
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THE OPERATION IS BEING PERFORMED