12:51 - 22.06.2023

---

June 22, Fineko/abc.az. The decision of the Board of the Central Bank states that Günay Bank’s banking license has been revoked due to the fact that the amount of its total capital is lower than the minimum amount established for banks, as well as due to the low adequacy ratio of its total capital, as well as due to the fact that its current activities are not carried out in a reliable and prudential manner.

ABC.AZ reports that Azerbaijan Deposit Insurance Fund’s executive director Tural Piriyev informed about this.

Fund’s representative noted that there is classification of insured deposits adopted by the ADIF, that is, those deposits that are considered insured. This is reflected in the legislation: "Most citizens are interested in the amount and interest. In Azerbaijani manats, this is a part of up to 12%. However, in foreign currency, the US dollar is most often used. Here deposits of up to 2.5% are considered insured deposits."