Financial Crime World

Armenia’s Banking Regulations: A Comprehensive Guide

Yerevan, Armenia - To ensure stability in the banking sector, Armenia’s regulatory authorities have established a comprehensive framework of laws and regulations that banks must comply with. The Central Bank of Armenia (CBA) is responsible for overseeing the implementation of these regulations, aiming to secure financial transactions and maintain public trust.

Key Regulations

The CBA has issued numerous resolutions and regulations covering various aspects of banking operations, including:

  • Internal Control: Minimum requirements for internal control at banks
  • Licensing: Procedures for obtaining and maintaining a bank license
  • Reporting: Requirements for reporting and publishing financial reports
  • Anti-Money Laundering Measures: Laws and regulations combating money laundering and terrorism financing
  • Other Regulations: Laws on banking, bankruptcy, currency regulation, accounting, payment-settlement systems, cash collection, public offer, funds transfer, guarantee of bank deposits, and more

Credit Register

The CBA has established a credit register to improve the transparency and efficiency of the financial system. The register contains information on clients’ creditworthiness and is accessible to banks and other financial institutions.

Guidelines

In addition to regulations, the CBA has issued guidelines on various aspects of banking operations, including:

  • Consumer Lending: Responsible lending practices and consumer protection
  • Cash Operations: Guidelines for cash handling and management
  • Public Offer: Regulations for public offerings and securities trading

Accessing Armenia’s Banking Regulations

The full text of Armenia’s banking regulations can be accessed at www.arlis.am. The website provides a comprehensive overview of the laws and regulations governing the banking sector in Armenia.

Conclusion

Armenia’s banking regulations provide a robust framework for ensuring the stability and integrity of the financial system. By complying with these regulations, banks can maintain public trust and confidence in their operations, while also promoting economic growth and development in the country.