MOSCOW, April 2. /TASS/. The Deposit Insurance Agency (DIA) will challenge the court's refusal to take interim measures in the form of seizure of shares of Qiwi JSC, the agency's press service told TASS.

"In the interests of the creditors of Qiwi Bank (JSC), DIA plans to appeal the judicial act refusing to take interim measures in the form of seizure of shares of Qiwi JSC," the agency said.

On April 2, the Moscow Arbitration Court did not satisfy the petition of the temporary administration of Qiwi Bank represented by DIA to take interim measures in the form of seizure of shares of Qiwi JSC owned by Qiwi plc or Fusion Factor Fintech Limited.

On March 4, it became known that the temporary administration of the Qiwi Bank, represented by DIA, asked the Moscow Arbitration Court to take a number of interim measures against the bank. In particular, DIA asked to seize all shares of Qiwi JSC owned by Qiwi plc or Fusion Factor Fintech Limited, prohibit the management bodies of Qiwi JSC from making decisions on the payment of dividends, distribution of profits and losses, payment of remuneration, as well as taking actions aimed at withdrawing funds and other property from JSC Qiwi.

As the DIA press service explained to TASS, the interim measures were declared "in support of the claim to invalidate the share purchase and sale agreement." The DIA is challenging the purchase and sale agreement for shares of JSC Qiwi and the agreement of pledge and encumbrance in relation to these shares.

On January 19, 2024, Qiwi completed business restructuring. The group sold its Russian assets to Hong Kong-based Fusion Factor Fintech Limited, owned by former Qiwi plc chief executive officer Andrey Protopopov.

License revocation

The Bank of Russia revoked the banking license of Qiwi Bank on February 21. In its decision to revoke the license, the regulator cited high-risk transactions aimed at facilitating settlements between individuals and shadow businesses, including the transfer of funds to crypto exchanges, illegal online casinos, bookmakers, etc., as well as looking for new ways to circumvent the restrictions imposed by the regulator. The regulator stated that it had recorded cases of opening "Qiwi wallets" using the personal data of citizens without their knowledge.

After the license was revoked, the Bank of Russia appointed the DIA as a temporary administration to the bank.