The license of Ramiz Mehtiyev's bank has been revoked

By the decision of the Board of the Central Bank of the Republic of Azerbaijan dated July 27, 2026, based on the application of Bank BTB OJSC, in accordance with Articles 16.1.1 and 29 of the Law of the Republic of Azerbaijan "On Banks" and the "Rules on Reorganization of Banks," the banking license issued to Bank BTB OJSC was annulled, and its legal successor - "Non-Bank Credit Organization T-Kredit" LLC - was granted a license based on Articles 10 and 11 of the Law of the Republic of Azerbaijan "On Non-Bank Credit Organizations."

According to the Central Bank, earlier by the decision of the Board of the Central Bank dated March 5, 2026, in accordance with the legislation, based on the application of Bank BTB OJSC, preliminary consent was given for its reorganization in the form of transformation into a non-bank credit organization. As part of the reorganization process of Bank BTB OJSC, a plan for the fulfillment of obligations to depositors and other creditors of the bank was approved, and the bank's creditors were duly informed. Within this framework, an "Agreement on the Transfer of Assets and Liabilities" was signed between the International Bank of Azerbaijan OJSC (ABB) and Bank BTB OJSC, and in accordance with this agreement, the transfer of assets and liabilities of Bank BTB OJSC to ABB was successfully completed.

It should be noted that the term and demand deposits of Bank BTB OJSC clients were fully and seamlessly transferred to ABB without changing their terms, and all clients were provided with free access to and use of their funds.

At the same time, the process of transferring the loan portfolio was also successfully completed. The claims against clients who had credit indebtedness or other obligations to Bank BTB OJSC were transferred to ABB with the preservation of contract terms, ensuring the continuity of loan servicing.

Thus, by the above-mentioned decision of the Board of the Central Bank, the process of annulling the license of Bank BTB OJSC and its transformation into "Non-Bank Credit Organization T-Kredit" LLC was successfully completed.

"Non-Bank Credit Organization T-Kredit" LLC will carry out its activities at the address: Baku city, 9 Nigar Rafibeyli Street.

It should be noted that 74.98% of the shares of Bank BTB OJSC belonged to the daughter-in-law of Ramiz Mehtiyev - Nigar Mehtiyeva.