Taleh Kazimov: Gunay Bank and Mugan Bank submitted incorrect reports

After inspections carried out by the Central Bank of Azerbaijan (CBA), it turned out that Gunay Bank OJSC and Mugan Bank OJSC submitted incorrect reports, CBA Chairman Taleh Kazimov said at a press conference, Report informs.

He noted that this was one of the reasons for the closure of these banks: “We conducted an on-site inspection and it turned out that the amount of capital of these banks didn’t meet the established requirement. As a result of this, the licenses of these banks were canceled.”