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Bank Ombudsman Achieves First Reconciliation between Bank and Creditor

Bank Ombudsman Achieves First Reconciliation between Bank and Creditor
Finance 


2017 November 03 ( Friday )  15:36:56
Print version
Русский Azərbaycan

Baku / 03.11.17 / Turan: The Bank Ombudsman, functioning in Azerbaijan since September 2017, achieved the first reconciliation between the bank and the creditor, the Ombudsman said.

The Ombudsman mediated in the dispute between a citizen Abit Abdullah Oglu Baghirov and Mugan Bank. The subject of the dispute was the citizen"s debt to the bank in US dollars.

After discussions with the bank"s representatives, taking into account the health problems of the 70-year-old A. Baghirov (suffering from diabetes and a stroke), and taking into account the low level of social welfare, the bank agreed to forgive the remaining debt, and an amicable agreement was signed.

At the same time, the amount of the debt was not indicated in the Ombudsman"s message.

It should be recalled that the decision to establish the Bank Ombudsman was adopted by the general meeting of the Association of Banks of Azerbaijan in February 2017. The Ombudsman started functioning in September.

The powers of the Bank Ombudsman include settling debt disputes that do not exceed $ 2,000. -71D-