Friday, October 26 2012 18:36

Central Bank does not rule out suspension of some payment systems' activities in Armenia


ArmInfo. The Central Bank of Armenia (CBA) does not rule out the possibility of banning the activity of some international payment and settlement systems having problems with implementation of the CBA's requirement to provide services in all the participant banks' branches, Oleg Aghasyan, member of the CBA Board, told journalists on Friday. However, he did not specify the systems.

The CBA's requirement says that the systems operating in Armenia should also carry out similar operations in Nagorno-Karabakh.

To note, Oct 9 the CBA made a decision to suspend the activity of Zolotaya Korona payment and settlement system in Armenia. The CBA's decision was based on the results of the monitoring and the customers' complaints about Zolotaya Korona's failure to provide the relevant services in a number of branches of Armenian banks. Earlier, on Sept 6, the activity of Migom system was suspended for the same reason.

"Now over 14 international payment and settlement systems in Armenia have a permit to carry out their activities, however, some of them have the same problems. For this reason, the CBA demands posting on the companies' websites the lists of the towns and the addresses of the offices, where the citizens can receive the money transfer. The given information should be available at all points of service", Aghasyan stressed.
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