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ESTABLISHMENT OF A BANK IN ARMENIA WILL REQUIRE AT LEAST 10 MLN USD
YEREVAN, DECEMBER 27. ARMINFO. To establish a bank in Armenia at
present, at least 10 mln USD are required. The Armenian CB Press
Service told ARMINFO that the CB adopted the decision on revisal of
the standard of the minimal size of the total capital for newly
established banks and its establishment at 5 bln AMD on Dec 24. In
conformity with this decision, the provision No.2 "On regulation of
the activity of the banks and the basic economic standards of the
banking activity" was amended.
To note, earlier this provision approved by the CB Board on August 6,
2002, provided for the size of the total capital for newly established
banks at 5 mln.
YEREVAN, DECEMBER 27. ARMINFO. To establish a bank in Armenia at
present, at least 10 mln USD are required. The Armenian CB Press
Service told ARMINFO that the CB adopted the decision on revisal of
the standard of the minimal size of the total capital for newly
established banks and its establishment at 5 bln AMD on Dec 24. In
conformity with this decision, the provision No.2 "On regulation of
the activity of the banks and the basic economic standards of the
banking activity" was amended.
To note, earlier this provision approved by the CB Board on August 6,
2002, provided for the size of the total capital for newly established
banks at 5 mln.