​Depositors of Bank of Azerbaijan will be paid 24 million AZN

Baku. 27 January. REPORT.AZ/ The compensation process of insured deposits of Bank of Azerbaijan OJSC will start on January 29.

Report was told by the Executive Director of Azerbaijan Deposit Insurance Fund (ADIF) Azad Javadov.

According to Javadov, the number of depositors who are entitled to compensation had not been specified yet: "In general, more than 6,000 depositors will receive compensation of total 24 million AZN. Compensation will be paid in branches of Muganbank, and in Nakhchivan - by OAO Rabitabank.

According to the decision No.4 of the Board of the Central Bank of Azerbaijan Republic (CBAR) dated January 18, 2016, banking license of Bank of Azerbaijan OJSC was revoked.