ArmInfo.At a Cabinet meeting on Thursday, Armenia's Premier Nikol Pashinyan warned against breaking the Law on Restrictions on Cash Circulation.
"From July 1, 2022, apartments and cars can be purchased or sold only by means of cashless settlements. Otherwise, in case of any property disputes, such transactions will be invalidated," he said.
In her turn, Armenia's Minister of Health Anahit Avagyan said that all the medical centers working in Yerevan switched over to cashless payments on July 1, 2022. This system will be effective throughout Armenia from July 1, 2024.
The Law on Cashless Settlements, as well as related laws, will take effect in Armenia from July 1, 2022. The laws were drafted by the Central Bank of Armenia and impose restrictions on cash circulation. The government believes the law will play a crucial role on corruption control and ensuring transparency of cash circulation.
