ArmInfo. The rights of minority shareholders of commercial banks and credit organizations in Armenia will be increased. The RA National Assembly at the plenary session on September 16 in the second and final reading adopted the amendments to the Law "On Banks and Banking Activity", proposed by the NA deputy from the "My Step" faction Artak Manukyan.
According to the deputy, according to the current legislation, minority shareholders have the right to raise issues of concern to them only at the general annual meeting of shareholders. Now it is proposed to secure for them the ability to solve their problems at any regular meeting of the banks' councils. In addition, in order to form a class of managers, it is proposed to allow one and the same person to be a member of several councils of banks at once. Moreover, we are talking about 50% or more banks in the country. In other words, out of 17 currently operating commercial banks, a person will have the right to be represented in the Council of 8 banks and credit organizations.
