Armenian Central Bank cancels the  participation of banks in InterExpress system

ArmInfo. Armenian Central Bank cancels the participation of the banks in Inter Express system, as Armenian Central Bank press service explained, on June 9 during the meeting of Central Bank Council, a decision was taken to withdraw the authorization to participate in the InterExpress system from VTB Bank (Armenia), INECOBANK, Converse Bank and MobiDram JSC.

Armenian CB refused to comment, and in the mentioned  banks the situation, without going into details, is being explained as a consequence of the decision of the Bank of Russia.

Meanwhile, Banki-ru Russian portan notes that on May 16, Russian Central Bank made a decision on exclusion  from the register of payment system operators the record of Intercoopbank as the operator of the payment system InterExpress. The day before, the regulator revoked the license from Intercoopbank, which, as it became known, "for a long time was in sight of the Bank of Russia on the  conduct of transit and questionable operations related to the cashing and withdrawal of funds abroad for transactions with securities." Banki-ru information says that Intercoopbank was registered in the register as an InterExpress operator on April 18, 2013 and also acted as its sole settlement center, payment clearing center and operating center. The payment system InterExpress was not included in the list of national, social or systemically significant.

Armenian bank system experts think that the latter is used and in case of Armenia-InterExpress did not enter the list of national, social or systemically significant payment systems.  To note, over 10 international money transfer  systems work in Armenia, among which MoneyGram, Avers, UNIstream, Fast Mail, Intel …xpress, Anelik, Ria Money Transfer, Sigue Money Transfer.