According to him, the bank has 7,342 depositors. 5,699 depositors will get back compensation in amount of AZN 24 mln (6 mln in USD and Euro): “According to researches, the bank couldn’t fulfill its obligations to creditors. Therefore, bank’s insured depositors will get compensation. The insurance accident occurred on January 22. According to law, the compensation must be paid after seven days”.
Javadov added that as the maximum amount of insured deposits makes AZN 30,000, the deposits of depositors having this amount will be returned by agent banks: “For instance, if a depositor has AZN 50,000 at this bank, AZN 30,000 will be repaid by Fund, AZN 20,000 by liquidator”.
Agent banks are Muganbank and Rabitabanks.
Javadov noted that the Fund has not received appeal about occurrence of insurance accident in other shut down 5 banks.
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