Lists of Armenian banks’ shareholders to be handed over to Central Depository

Banks

YEREVAN, February 18. /ARKA/. On Thursday, Armenian government approved the amendments to the laws on banks and shareholder organizations.

Arthur Javadyan, chairman of the Central Bank of Armenia said Thursday at the cabinet meeting that the aim of this amendment is to hand over register-holding powers of banks that are shareholder organizations to the Central Depository of Armenia.

The amendments also specify that investor organizations have no longer enjoy the right to hold lists of shareholders – they have to hand this function over to the specialized institution that is not connected with them.

According to NASDAQ OMX Armenia Stock Exchange, the number of owner organizations listed by the Central Depository of Armenia reached 1,527 by late 2009 after growing by 370. –0–

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