19.05.2015 15:49
YEREVAN, May 19. / ARKA /. Armenia’s National Assembly has passed today in the first reading a Central Bank-proposed bill that calls for a dramatic increase in the size of insured individual bank deposits both in the national currency, the dram and in foreign currency.
More precisely, the size of individual deposits in drams will rise to 10 million from the current 4 million, while the size of deposits in foreign currency will grow to the equivalent of 5 million drams from the current 2 million.
The following scheme will work if an individual has deposits both in drams and foreign currency. If the dram deposit is above 5 million, only that amount will be insured fully. If the deposit in drams is less than 5 million, it will be insured fully and a part of the deposit in foreign currency - the equivalent of the difference between the deposit in drams and 5 million drams. Overall, the proposed bill provides for a 2.5 times increase in the amount of insured deposits.
Categories: Banks @en, General news, News, News of the hour | Comments Off on National Assembly passes in first reading a central bank-proposed bill that doubles the size of insured individual deposits
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