When the law on bank secrecy was being amended, I set a very clear standard, that is, I said Armenia has to set the same standard that was set in, for example, Scandinavian countries. This is what Prime Minister of Armenia Nikol Pashinyan stated during a meeting with members of the Armenian community of New York yesterday.

“The economies in Scandinavian countries don’t crumble since the banking system is sustainable. Armenia can’t establish a legal, democratic, social and sovereign state without changes in the banking system,” Pashinyan said.

He emphasized that nobody should intimidate anyone by saying that such changes may pose a threat to the sustainability of the banking system. “Armenia’s banking system is and will continue to be sustainable. Armenia is introducing the standards that are set in Sweden, Norway and Finland,” Pashinyan declared.