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Armenia’s Central Bank does not seek closure of banks- statement

27.02.2015 18:34

Armenia’s Central Bank does not seek closure of banks- statement

YEREVAN, February 27. / ARKA /. Armenia's Central Bank has shrugged off today speculation that its latest decision to raise the minimum amount of commercial banks’ total capital to 30 billion drams from the current 5 billion drams from January 1, 2017 is designed to force closure of a bank or banks.

In a statement the regulator said a string of comments, prompted by the decision in question are based on ‘abstract judgments lacking complete information.’

‘In some cases the speculation is being made intentionally along with attempts to trigger unfounded concerns among citizens through ‘comments" containing financial terms. What is unacceptable is manipulation with names of banks with an alleged purpose of their protection,' the statement said.

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