National Bank of Azerbaijan continues to assess banks’ minimal capital adequacy

National Bank of Azerbaijan continues to assess banks’ minimal capital adequacy
# 25 November 2008 14:45 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. The National Bank of Azerbaijan (NBA) continues to assess banks’ minimal capital adequacy.
The minimum requirement for the total capital was set at AZN 10 million on July 1, 2007.
The central bank’s officer for lending institutions Rashad Orujov said 7 banks failed to meet the minimal capital adequacy requirements.
“Their license has been limited and they are not allowed to take deposits,” he added, not referring to the banks namely.
The banks that failed to meet the requirements include Debut Bank, Silkway Bank, AvroBank, Birlik Bank, Kredo Bank, Kovsər Bank and AF-Bank.
At present there are 45 banks in Azerbaijan.
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THE OPERATION IS BEING PERFORMED