YEREVAN. – A centralized register of bank accounts will be created in Armenia. Nerses Yeritsyan, Vice-Governor of the Central Bank of Armenia (CBA), stated this at Tuesday’s meeting of the Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly, during the discussion of the bill on addenda to the Law on the Central Bank of Armenia.
"The goal of the change is to increase the effectiveness of the fight against money laundering and funding of terrorism. (…). The [aforesaid] effectiveness in terms of money laundering, funding of terrorism is that all [bank] accounts and banks will be questioned when conducting various analyzes and communicating with law enforcement agencies,” Yeritsyan explained.
Thus, through the said register, the selective bank accounts that are in question will be approved.
The CBA official assured that the information on the initial balance, account movements, and their final balance will be collected and stored.
After lengthy discussions, the abovementioned parliamentary committee approved this legislative initiative.
