Central Bank: the Bank of Russia revoked the license of the “Miraf-Bank”

Central Bank: the Bank of Russia revoked the license of the “Miraf-Bank”

MOSCOW, January 21. The Bank of Russia has withdrawn since January 21, 2016 the license for banking operations at JSC Omsk “Miraf-Bank”. This was reported on Thursday on the website of the regulator.

“The decision to use extreme measures – the revocation of license for Bank operations – is accepted Bank of Russia in connection with default by a credit institution Federal laws regulating banking activity and Bank of Russia regulations, ascertainment of facts of significant unreliability of reporting data,” the statement reads.

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According to the Central Bank, “Miraf-Bank” has placed funds into low-quality assets and create adequate accepted risks reserves. On the background of the unsatisfactory quality of assets not generating sufficient cash flow, the Bank did not provide timely fulfillment of obligations to creditors. Besides, the credit institution hid the existence of grounds for revocation of a license, presenting to the Supervisory authority false statements.

In addition, “Miraf-Bank” failed to comply with the requirements of the legislation in the field of counteraction to laundering of income obtained by criminal means and financing of terrorism, not sending in a timely manner to the authorized body of messages on transactions subject to mandatory control, the report says.

In accordance with the order of the Bank of Russia, “Miraf-Bank” appointed a temporary administration valid up to the date of appointment of the bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution are suspended.

As of 1 January 2016 “Miraf-Bank” total assets 358 took place in Russia’s banking system, said Bank of Russia.

Payments to depositors will start no later than 4 February

Payouts to insured depositors “Miraf-Bank” will begin no later than 4 February 2016, according to the Agency for Deposit insurance (DIA).

For operative reception of statements of citizens and the fastest possible payment of compensation on deposits DIA intends to use agent banks, which by decision of the Board of the DIA will be selected on a competitive basis, not later than 27 January 2016, the report said.

The insurance indemnity is paid to the depositor in the amount of 100% of the sum of all his accounts (deposits) of the Bank, including open for business activity, but not more than 1,4 million rubles in total. By Bank Deposit (account) in foreign currency insurance indemnity is calculated in rubles at the exchange rate as of the day of revocation of the license is 21 January 2016, says the DIA.