Artsakhbank makes explanations concerning leader remittances system

20.07.2011 21:24
Artsakhbank makes explanations concerning leader remittances system

YEREVAN, July 20. / ARKA /. Artsakhbank said today its share of remittances via Leader money transfer system was only 20%. In a press release the bank said a previously published figure of 70% in a relating report concerned only one of its branches.

According to the press release, since 2009 the Leader system stopped servicing a number of banks’ branches without any explanation and stopped servicing Artsakhbank from early 2011. "Artsakhbank repeatedly tried in vain to get a verbal explanation why it stopped servicing some branches and also sent a letter to the system operator, but received no answer.

As a result, since the beginning of 2011 Artsakhbank has not been able to transfer money through the Leader system", the press release says. Artsakhbank was created by a Nagorno-Karabakh presidential decree on the basis of previous Savings Bank in December 1995. It received a general license from the Central Bank of Armenia in 1996. -0-


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