Sat, 26 July
31.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian Central Bank proposes to increase size of guaranteed deposits 2.5 times

YEREVAN, April 10. /ARKA/. The Central Bank of Armenia proposes to increase the size of guaranteed deposits in drams to AMD 10 million and in foreign currencies to the amount equal to AMD 5 million, Mher Abrahamyan, head of the central bank’s division in charge of regulation of the finance system, said in an interview with ARKA News Agency.

Now the guaranteed compensation for individuals’ deposits in drams is AMD 4 million and for those in foreign currencies AMD 2 million.

“It means it is proposed to increase the guaranteed deposits 2.5 times, and as a result, 95% of individuals’ deposits will be guaranteed,” Abrahamyan said.

He said that the regulator has prepared a package of amendments to the law on insurance of bank deposits, taking into account some financial and banking indicators, the population’s income, sizes of deposits and the number of depositors.

According to the central bank, deposits in the country’s banks totaled about AMD 1 728.4 billion in late February – residents’ deposits here amounted to AMD 1 331.8 billion, where deposits in drams amounted to AMD 481.6 billion and in foreign currencies to AMD 850.2 billion. –0–

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img