YEREVAN, May 13. /ARKA/. All Armenia-based commercial banks make sure to strictly comply with all international sanctions, the executive director of the Union of Banks of Armenia (UBA), told a press conference today.
“Our banks consistently and conscientiously comply with all international sanctions in their daily activities,” he said at a press conference on Friday.
Sargsyan added that the banks do not avoid activity which is not banned by the sanctions.
Sargsyan said also that the interest rates of the local banks have not changed noticeably. He said interest rates usually rise amid uncertainties and risks and that was the reason why the Central bank had raised the refinancing rate in March by 1.25% to 9.25% and left it unchanged by a May 3 decision -0-
