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Armenia's central bank will no longer publish names of unscrupulous creditors

09.12.2019 16:25

Armenia's central bank will no longer publish names of unscrupulous creditors

YEREVAN, December 9. /ARKA/. Armenia's National Assembly has approved today in the first reading a set of amendments to the law on bank secrecy, which remove the requirement that the Central bank must publish the names of creditors who fail to meet their contractual obligations.

According to the Deputy Chairman of the Central Bank, Nerses Yeritsyan, this requirement had been introduced in the past in order to encourage lenders to comply with their obligations, however, legislative changes adopted later essentially made this requirement unnecessary.

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