12:20 - 27.06.2024
June 27, Fineko/abc.az. The Central Bank of Azerbaijan clarified the issue that non-bank credit organization PARA has been operating with negative capital for several years.
The NBCO was established in 2017 as a result of reorganization of Parabank, ABC.AZ reports with reference to the CBA.
As of the last reporting date, PARA OJSC has no obligations to individuals and legal entities under the deposit portfolio that existed before the transformation into NBCO, but has unfulfilled obligations to the relevant funds.
The credit activity of PARA OJSC has not been carried out since September 2021, its activity consisted mainly in measures aimed at fulfilling obligations to the relevant funds.
The fulfillment of these obligations of PARA OJSC is in the focus of attention of the CBA in coordination with the relevant funds.
