ADIF creates a multi-bank system

Baku. 1 December. REPORT.AZ/ 11 banks - Royal Bank, Bank of Azerbaijan, Atrabank, Caucasus Development Bank, Bank Technique, "Dekabank", "Kredobank", "Parabank", "Zaminbank", Bank Standard and "Ganjabank" will be united in single electronic management system.

ADIF Executive Director Azad Javadov told Report.

According to him, institution headed by him created a multi-bank system with this purpose: “At present we incorporate banks, which are in liquidation process, into this system. Bank Standard and Caucasus Development Bank have already been linked to the system. Now we work on “Zaminbank”. Other banks will also be incorporated into the system step by step, and 11 banks will be managed from a single center”.

A.Javadov noted that, main purpose of creation the united information system is to ensure transparency of liquidation process: “Real situation related to all eliminated banks will be available in this system. Their property in sale will be observed and sold property will automatically disappear”.

ADIF’s chairman revealed latest situation related to sale of immovable property of liquidated banks: “Inventory is underway. We plan to finish these works on December 15 and offer for sale on recently developed web site – www.emlak.adif.az.