Banks of Armenia, in cooperation with Government and CBA, to offer  individual and general solutions to forcibly displaced people from  Artsakh - Central Bank

ArmInfo.Commercial banks in Armenia are currently conducting an inventory of tangible and  intangible assets in order to get a complete picture of the problems  that have arisen as a result of the situation in Nagorno-Karabakh. 

Based on the results of the inventory, in cooperation with the  Government and the Central Bank, individual or general solutions will  be offered to forcibly displaced residents from Artsakh  (Nagorno-Karabakh). This was reported to ArmInfo by the Central Bank  of Armenia, answering ArmInfo's question about whether the Central  Bank intends to declare a credit amnesty for refugees and introduce a  program for their preferential lending (including mortgage loans).

To another question from ArmInfo regarding the possibility of  forcibly displaced citizens of Nagorno- Karabakh to freely use their  deposits here in Armenia, the Central Bank replied that all divisions  of banks operating in Artsakh are branches of commercial banks  licensed and registered by the Central Bank of Armenia in the  territory of Armenia. Accordingly, services to citizens are and will  be provided regardless of their location.

It is worth noting that as of July 1, 2023, 7 Armenian banks were  operating in Nagorno-Karabakh, with a total of 20 branches and quite  a large number of ATMs. Artsakhbank had the most branches, the  remaining 11 ones were branches of Armbusinessbank, Ardshinbank,  Unibank, Armeconombank, Converse Bank and Araratbank.

Following the violent seizure of the Nagorno-Karabakh by Azerbaijan,  100,520 citizens of the Republic of Artsakh fled to Armenia.