Government bars former convicts from serving as executives in financial organizations

YEREVAN, MARCH 1, ARMENPRESS. The government of Armenia has approved the bills on amending the law on Insurance and Insurance Activities.

Speaking at today’s Cabinet meeting, Central Bank president Arthur Javadyan said the regulations’ purpose is to prevent individuals having previous criminal convictions from becoming executives, or being members of executive boards of financial organizations.

Javadyan said the amendments will cover pawnshops, insurance brokers, payment and settlement organizations and currency exchangers.

English –translator/editor: Stepan Kocharyan