Tuesday, July 15 2014 19:11

Armenia's CB approves BTA's joining Sigue Money Transfer and cancels GFC's license


ArmInfo. During a meeting on Tuesday Armenia's Central Bank approved BTA's joining the Sigue Money Transfer system and canceled General Financial & Credit Company's license, reports the CB's press service.

BTA is also a member to Anelik, UNIstream, IntelExpress, Faster, Money Gram, Avers, Bystraya Pochta, Tandem Payments.

General Financial & Credit Company was co-founded in May 2007 by Artur Zakaryan (52%) and Areg Grigoryan (48%). At first it was quite successful but as the number of rivals was growing, its efficiency began to decline. The crisis of late 2000s-early 2010s might also be a deterrent.
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