CBA told APA-Economics that the related decision was taken by the bank’s Board of Directors on April 9.
Thus, number of banks reached 44.
CBA passed a decision on abolition of Kovser Bank’s license in 2010 due to unfulfilment of requirements for minimum capital and irregularities.
In April 2013, Baku court of Appeal made a decision on canceling resolution of Baku Administrative-Economical Court No1 on bank insolvency.
Kovser Bank is the first bank in Azerbaijan (second in the CIS) operating on Islamic banking principles.