Time in Yerevan: 11:07:36,   17 May

Armenia introduces new cash payment limitations

Armenia introduces new cash payment limitations

YEREVAN, JANUARY 18, ARMENPRESS. Parliament approved new restrictions on the limit of cash transactions, setting 300,000 as the limit.

The law passed 66-28-5.

Payments exceeding 300,000 drams will have to be made electronically.

Under another amendment pawnbrokers issuing loans more than 80,000 drams will have to issue it electronically starting July 1, 2022. The limit will gradually reach 30,000 drams by 2024.

Loans by banks and credit organizations are also issued exclusively electronically.


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