Title: Compliance Regulations for Financial Services in Armenia: An Overview
Table of Contents
- Introduction
- List of Regulations Applicable to Banking Services in Armenia
- Access to Legal Information
- Conclusion
Introduction
The Central Bank of Armenia (CBA) has issued a statement outlining the various laws and normative legal acts that regulate the banking sector in Armenia. This article provides an overview of the regulations applicable to banking services in the country.
List of Regulations
The following is a list of regulations that apply to the services provided by banks in Armenia.
- **Civil Code of the Republic of Armenia**
- **Law on the Central Bank of Armenia**
- **Law on Banks and Banking**
- **Law on Bankruptcy of Banks, Credit Organizations, Investment Companies, Investment Fund Managers, and Insurance Companies**
- **Law on Bank Secrecy**
- **Law on Attraction of Bank Deposits**
- **Law on Securities Market**
- **Law on Currency Regulation and Currency Control**
- **Law on Accounting**
- **Law on Payment-Settlement Systems and Payment-Settlement Organizations**
- **Law on Cash Collection**
- **Law on Implementation of Unified System of Financial Regulation and Control**
- **Law on Cash Operations**
- **Law on Public Offer**
- **Law on Funds Transfer by Payment Order**
- **Law on Guarantee of Bank Deposits of Physical Entities**
- **Law on Combating Money Laundering and Terrorism Financing**
- **Law on the Financial System Mediator**
- **Law on Consumer Lending**
- **Resolution 102-Ն of 16.04.2013** - Regulation 4: Minimum Requirements for Internal Control at Banks
- **Procedure for Establishment of Creditability Database (Credit Register)**
- **Resolution 190-Ն of 15.07.2014** - Regulation 1: Procedures of Licensing, Registration, Giving Consent and Permission, Appraisal of the Professional Adequacy and Qualification in the Banking.
- **Resolution 39-Ն of 01.03.2011** - Procedure of Selection of Independent Auditor by Commercial Banks of Armenia.
- **Resolution 40-Ն of 15.03.2016** - Regulation 9: Operations with Cash in Banks Operating on the Territory of the Republic of Armenia.
- **Resolution 279-Ն of 07.10.2014** - Regulation: Minimum Requirements Set for Financial Institutions in the Field of Combat against Money Laundering and Financing of Terrorism.
- **Resolution 363-Ն of 16.12.2008** - Regulation 8/01: Explanations and Examples of the Calculation of the Actual Annual Interest Rate.
- **Resolution 165-Ն of 02.06.2009** - Regulation 8/02: Calculation of Annual Percentage Yield of Bank Deposits.
- **Resolution 166-Ն of 02.06.2009** - Publication of Information by Financial Organizations and Financial Groups About the Approval of Regulation 8/03.
- **Resolution 255-Ն of 28.07.2009** - Regulation 8/04: Minimum Conditions and Principles Regulating the Procedure of Examination of Complaints/Claims of Customers.
- **Resolution 229-Ն of 28.07.2009** - Regulation 8/05: Procedure, Terms, Forms, and Minimum Requirements for Communication between Bank and Depositor, Creditor, and Consumer.
- **Resolution 176-�ண of 04.08.2017** - Regulation 8/06: Requirements to Procedures and Methods of Application of Rules of Business Treatment of Banks and Credit Organizations with Guarantors.
Access to Legal Information
The Central Bank of Armenia advises its clients to visit the Armenian Legal Information System’s (arlis.am) website for the most accurate and reliable information on these regulations. Please note that while the information provided below is accurate at the time of publication, it may not be 100% accurate or reliable, and the Central Bank of Armenia does not assume any liability for their contents or potential consequences of their usage.
Conclusion
The Central Bank of Armenia encourages all clients and stakeholders to familiarize themselves with these regulations to ensure compliance for their banking activities. Regularly checking the official websites for updates and amendments is recommended to maintain a thorough understanding of the regulatory environment pertaining to financial services in Armenia.