Standard Leasing suffers from liquidation of Bank Standard

Baku. 1 November. REPORT.AZ/ 'Standard Leasing' LLC suffers from cancelation of license of 'Bank Standard' CJSC.

Head of company’s finance and marketing department and chief accountant Nizami Gasimov told Report.

“Our company was borrowing money from Bank Standard for its operations. But bank’s resources became exhausted and its license was canceled. That’s why we stopped leasing and at present Standard Leasing almost ceased its operations” N.Gasimov told.

Chief accountant told that steps to restore company’s operations have not been yet decided. He noted that Standard Leasing has no plans to follow example of other companies and release bonds for attraction of financial means.

Notably, 'Standard Leasing' was founded in 2006. Its authorized stock capital is AZN 4 015 million. 99.998% of company’s shares belong to 'Standard Kapital' (it froze its operations due to new regulations in securities market) which is a member of 'AB Standard' CJSC and 0.002 % belongs to mentioned conglomerate. These group of companies belongs to former minister of economic development Heydar Babayev.