Around 6500 non-residents entered Armenia’s banking system in about two weeks

YEREVAN, MARCH 15, ARMENPRESS. In the period of March 2-15, about 6500 non-residents have entered Armenia’s banking system, President of the Central bank of Armenia Martin Galstyan said at a press conference, commenting on the problem with the opening of bank accounts facing some Russian citizens who have moved to Armenia.

The CBA Governor said regardless of the Russia-Ukraine conflict, the sanctions, the requirements for non-residents are always stricter in any banking system. He called the approaches of the Armenian banks in this respect quite right, stating that attraction of new clients by banks is taking place in accordance with proper procedures.

“This means that banks are properly examining their new clients, trying to understand whether they are transit clients or the center of their economic interest is Armenia. If the clients are attracted to Armenia’s banking system because the center of their economic interest has changed and became Armenia, I think there is no problem. If, according to the banks, the banking system of Armenia is used as a mechanism for conducting transit deals, in that case banks, of course, act at their own discretion”, he said.

He informed that as of this moment around 6500 non-residents have already entered Armenia’s banking system.