Here is the converted article in markdown format:

Armenia: Bank Managers’ Qualification and Remuneration Regulations

Yerevan, Armenia - In an effort to strengthen banking regulations in Armenia, the Central Bank of Armenia (CBA) has implemented new rules governing the qualification and remuneration of bank managers.

Qualification Requirements

According to Regulation 1, bank managers can become qualified by passing an exam organized by banks and branches of foreign banks. The CBA registers managers who meet the required qualifications and experience, and their registration serves as evidence that they hold a qualification certificate defined by Armenian banking law.

The CBA may deregister a manager in certain circumstances, including:

• When the bank or branch requests it
• When the bank goes into liquidation
• When the manager breaches legislation or fails to comply with requirements for appointment as a manager

Remuneration Regulations

In addition, the CBA has introduced regulations on remuneration, limiting bonus and incentive payments if they lead to a decline in a bank’s financial condition or breach of prudential standards.

Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Regulations

The article also highlights the importance of AML and KYC regulations for banks in Armenia. Banks are required to:

• Conduct customer due diligence
• Evaluate potential risks associated with transactions and business relationships
• Report suspicious transactions
• Freeze assets related to terrorism or weapons proliferation

Depositor Protection Regime

The article concludes by discussing the depositor protection regime in Armenia, which includes a deposit guarantee fund managed by the CBA. The fund provides compensation for deposits up to certain limits in the event of a bank’s insolvency or bankruptcy, with some exceptions applying.

I hope this meets your requirements! Let me know if you need any further assistance.