YEREVAN, March 15. /ARKA/. The Armenian authorities intend to void the Law on Panarmenian Bank, Zhamanak reports.

The law was adopted in December 2008. The thing is that the bank was established formally, but in fact, failed to operate.

The Panarmenian Bank, the development bank, received its license in June 2011. Its only shareholder was the Central Bank of Armenia. The bank’s authorized capital amounted to AMD 7.5 billion. In August 2017, it was transformed into an investment fund. ($1 – AMD 486.75). -0-