11:49 - 6.11.2023

---

November 6, Fineko/abc.az. A new requirement for bankrupt banks is being established in Azerbaijan.

ABC.AZ reports that this was reflected in the amendment to the Law on Banks, discussed at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.

According to the draft, the assets of the bank declared bankrupt will be distributed among its creditors in new order of priority. In this case, taxes are payable to the state budget, contributions to non-budgetary state funds for compulsory state social insurance and unemployment insurance, to the compulsory health insurance fund - the amounts payable on contributions to compulsory health insurance.