Starting from November 27, payment of compensations to depositors of “Muganbank” OJSC will be carried out through “International Bank of Azerbaijan” OJSC and “Kapital Bank” OJSC.
Publika.azabout thisIt was reported by the Deposit Insurance Fund (ISF), the liquidator of “Mugan Bank”.
According to Article 28.3 of the Law “On Deposit Insurance”, the Deposit Insurance Fund accepts depositors’ applications within one year from the day of the first publication of the notice on compensation payment.
Protected depositors are in the process of canceling withdrawals from their savings accounts “Mugan Bank” JSC, Baku city, Narimanov district, Ahmed Rajabli 21B located at from the head office they can get.
“When applying to any branches and departments of the International Bank of Azerbaijan and “Kapital Bank” to receive compensation from depositors, in accordance with the procedures for payment of compensation, a deposit agreement, deposit book, or other documents confirming the deposit in accordance with the legislation and their copy, as well as the identity of the depositor, must be submitted to the application. the document is requested to be submitted. When the depositor’s representative applies for compensation, he must submit a notarized power of attorney along with the mentioned documents,” the information says.
Protected depositors can obtain application forms from the branches and departments of “International Bank of Azerbaijan” OJSC and “Kapital Bank” OJSC, as well as from the FSA website www.adif.gov.az from November 27. Compensation will be paid by all branches and departments of these banks.
Deposits will be compensated in accordance with the Law “On Insurance of Deposits”. Thus, the amount of compensation for the amount of 100% of the insured deposit, but not exceeding 100,000 manats, the amount of compensation for the funds in the bank accounts opened by individuals in connection with entrepreneurial activity, not exceeding 20,000 manats, for the funds belonging to individuals in the deposit accounts of notaries compensation will be paid in the amount of 100% of those funds.
It should be recalled that by the decision of Baku Court of Appeal No. 2-3(103)-54/2023 dated October 24, 2023, “Muğanbank” OJSC was declared bankrupt and the Deposit Insurance Fund was appointed liquidator of the bank. Also, in accordance with the law, the day of the insurance event at “Muganbank” OJSC was determined as November 24, 2023.
Detailed information about the compensation payment process is available on the website of the Deposit Insurance Fund.
