Azad Javadov: Property of liquidated banks can be rented out

Baku. 8 November. REPORT.AZ/ Azerbaijan Deposit Insurance Fund (ADIF) prepares to put up for sale immovable property of 11 banks eliminated by itself. ADIF executive director Azad Javadov told Report.

According to him, this week Custodian Body of the Fund will gather for meeting to approve rules for sale of property: “Then the experts will determine costs of properties, after which they will be put up for sale”.

A.Javadov hasn’t excluded rent-out of properties, in case of protraction of sale: “Of course Fund is interested in any revenue from these properties. That’s why we can rent them out until real buyer comes”.

Notably, ADIF manages liquidation of Open Joint-Stock Companies: Royalbank, Bank of Azerbaijan, Atrabank, Caucasus Development Bank, Bank Technique, Dekabank, Kredobank, Parabank, Zaminbank, Bank Standard and Ganjabank.