Tuesday, April 6 2021 14:21
Alina Hovhannisyan

The financial regulator sees the feasibility of introducing a  centralized register of bank accounts

The financial regulator sees the feasibility of introducing a  centralized register of bank accounts

ArmInfo. The financial regulator sees the feasibility of introducing a centralized register of bank accounts. This was announced following a meeting of the RA NA  Standing Committee on Budget, Financial and Credit Issues.  

Introducing the draft law on amendments to the RA Law on the Central  Bank, Deputy Chairman of the Central Bank of the Republic of Armenia  Nerses Yeritsyan noted that the need to introduce such a register  comes from the general standards for combating money laundering and  terrorist financing. In the future, these changes, according to him,  will allow to develop innovative ideas related to the automation of  bank accounts of citizens, the introduction of electronic currency,  etc. 

At the same time, Yeritsyan noted that the register does not contain  information about the account balance or current movements of funds.   He explained that the effectiveness lies in the fact that during  various analyses and communications with law enforcement agencies,  not all accounts or banks will be questioned, and only those that are  the subject of dispute will be selectively collected.

Yeritsyan also added that from the point of view of the innovative  nature of the register, there is an idea to create a national  identification system in the future, within which every citizen will  have an account. In this context, he noted that the centralized  register will allow offering citizens various combined services,  including outside the country.

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