(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 6. Azerbaijan can
introduce a new requirement for bankrupt banks, Trend reports.
This issue has been reflected in an amendment to the law "On
banks", discussed at today's meeting of the Azerbaijani
Parliament's Committee on Economic Policy, Industry, and
The document noted that the assets of a bankrupt bank will be
distributed among its creditors in a new order. In this case, taxes
to the state budget, contributions to mandatory state social
insurance and unemployment insurance to off-budget state funds, as
well as amounts payable for mandatory medical insurance
contributions to the Compulsory Health Insurance Fund, will be
Currently, there are 22 banks in Azerbaijan, one of which is the
state (Central Bank of Azerbaijan) and the rest are private
This year, Gunay Bank and MuganBank were declared bankrupt.
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