Bank Technique’s licence withdrawn

Bank Technique’s licence withdrawn

02 February 2016, 11:31 795
The Central Bank of Azerbaijan has withdrawn the license of Bank Technique OJSC due to the fact that the total capital of the bank didn’t comply with the requirements of the Central Bank of Azerbaijan, the bank couldn’t fulfill its obligations to creditors and did not operate prudentially and reliably.

A temporary administrator has been appointed in the bank since Feb. 2.


In accordance with the law, the Azerbaijan Deposit Insurance Fund will pay compensations to the bank’s depositors, the bank said.