Armenian parliament ratifies EEU Agreement on Procedure of Transferring Information Included in Credit Histories

YEREVAN, September 15. /ARKA/. By a vote of 65 the Armenian parliament on Thursday ratified a Eurasian Economic Union’s Agreement on the Procedure of Transferring Information Included in Credit Histories.

Deputy Chairman of the Central Bank Hovhannes Khachatryan said the main goal of the Agreement is to simplify the availability of credit products for citizens and organizations of the EEU member countries, as well as to enable banks to fairly and objectively assess the credit risk of potential creditors.

The Agreement also creates a legal basis for cross-border exchange of credit histories.

“Transfer of credit information is possible only with the consent of the subject, i.e. the individual or legal entity to which the information relates. The data can be used solely for the purpose of forming credit relations,” he specified.

Khachatryan said that the information from Armenia will be transferred by ACRA Credit Bureau.-0-

spot_img

POPULAR

Fitch Expects Central Bank of Armenia to Raise Refinancing Rate

International rating agency Fitch Ratings expects a temporary increase in the refinancing rate in Armenia.

Armenia has benefited from capital transit, but its origins pose reputational risks – Tavadyan

The report of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) on Armenia documented the country's progress in developing its anti-money laundering and counter-terrorist financing systems, but identified insufficient effectiveness in investigations, prosecutions, and confiscation of criminal assets, as well as the need for stronger oversight in several economic sectors.

MONEYVAL recommended Armenia strengthen its fight against money laundering and confiscation of criminal assets

The Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) noted Armenia's progress in developing its system for combating financial crime, but recommended strengthening the effectiveness of money laundering investigations, asset confiscation, and oversight of certain economic sectors.

Strong banks’ capital and liquidity positions mitigate risks to Armenia’s financial stability – Fitch

Risks to financial stability in Armenia are mitigated by banks' strong capital and liquidity positions, according to the international ratings agency Fitch Ratings.

Become a Unibank shareholder and benefit from an attractive investment opportunity

Individuals and legal entities can acquire ordinary shares from Unibank’s new share issue until September 9, 2026, at a placement price of AMD 390 per share.

LATEST NEWS

spot_imgspot_imgspot_img