YEREVAN, October 31. /ARKA/. Armenia’s financial system should aim to avoid the risks that may hit the country by sanctions, Central Bank Chairman Martin Galstyan stated in the parliament today in response to a question about whether Armenia was ready to follow neighboring Georgia’s suit and
open a bank branch for people without Georgian citizenship, where they can open a foreign currency account within 45 minutes using their passport and a Georgian phone card.
“I think such operations are in the realm of the commercial banks, not the Central Bank,” Galstayn said at parliamentary hearings on the 2023 draft budget.
Galstyan noted that the commercial banks themselves decide whether to take such a step or not.
He also stressed that the priority for the Central Bank is to meet the requirements related fighting money laundering, terrorist financing and the correct evaluation of the client, which international partners put forward regarding non-residents.
“The interest of commercial banks in serving such clients come from their competitive objectives. The Armenian Central Bank’s point of view is to keep the financial system from potential risks,” he said. -0-
