Armenia to abolish forex dealers' license

23.01.2020 18:44
Armenia to abolish forex dealers' license

YEREVAN, January 23. /ARKA/. Armenia's National Assembly has approved today in the first reading a package of bills to amend the Law on Licensing, as well as several related laws. The bills abolish the requirement that foreign exchange dealers and brokers must be licensed.

“Our economy is sensitive to currency fluctuations, and international experience indicates the need for tight regulation. There are also cases of abuse, and there are problems with protecting consumers' rights,”said Deputy Chairman of the Central Bank Nerses Yeritsyan, when presenting the bills.

“Historically, these licenses were used by entities carrying out transactions on the exchange when there was not yet a relevant legislation,” he said. —0—


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