Bank Standard Creditors Committee holds first meeting

Baku. 28 April. REPORT.AZ/ Azerbaijan Deposit Insurance Fund (ADIF) holds first meeting of Creditors Committee of Bank Standard in the liquidation process under its management.

Report informs, the members of the committee, representatives of legal entities, as well as individuals lent large amounts to the bank attend the meeting.

ADIF executive director Azad Javadov speaking at the meeting, told that Bank Standard holds AZN 1.2 bln part of overall AZN 3.2 bln amount in under liquidation banks. This money belongs to about 150,000 customers.

According to him, despite the fact that only 20 legal entities and individuals are represented in Creditors Committee, rights of small depositors will also be protected and that public unions have been arranged for this purpose.

A.Javadov also noted that Creditors Committees of other under liquidation commercial banks will also convene within one month.