YEREVAN, July 9. /ARKA/. On July 4 Armenia’s Central Bank officially notified relevant government agencies that the activity of Financial Trading House (FTH) aka Robert and Sons LLC, runs contrary to the Armenian law.

The Central Bank recalled today in a statement that last week reports in some Armenian media said that the Swiss Swissquote Bank launched its activity in Armenia through the Financial Trading House (Robert and Sons LLC) company. According to those reports, Armenian clients had the opportunity to invest in the Swissquote bank using FTH as intermediary.

"In connection with those reports, the Central Bank would like to inform that in accordance with the Armenian legislation, a foreign bank can carry out activity in Armenia exclusively through a Central bank-licensed subsidiary bank or through a branch (also licensed by the Central Bank)," the Central Bank of Armenia said in the statement.

Categories: Banks @en, General news, News, News of the hour, Новости | Comments Off on Armenian Central Bank says Swissquote’s activity in the country is illegal

Tags: activity, Armenia, Central Bank, illegal, Swissquote

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