Azerbaijani bank's property put up for auction

On July 25, "Baku Auction Center" LLC will hold an open auction for the sale of the real estate of "Bank of Azerbaijan" OJSC, which is in the process of liquidation, Azernews reports, citing a release made by the liquidator of the bank - Deposit Insurance Fund (ESF).

The property that will be put on auction is about 8.3 hectares of agricultural land worth 30,000 manat in Alatli village of Hajigabul district.

Recall that Bank of Azerbaijan was founded on December 1, 1993 as "Rabbatbank" KB based on the license No. 166 issued by the Central Bank of Azerbaijan. Since 2004, the Bank has been an Open Joint Stock Company after changing its organizational and legal structure.