24/02/2015 20:56
Hrant Bagratyan: Central Bank of Armenia does not work at all
“The Central Bank of Armenia (CBA) has decided to raise the minimum amount of commercial banks’ total capital from previous 5 billion drams to 30 billion drams. It is an unfounded decision,” the deputy of Armenian National Congress (HAK) faction Hrant Bagratyan said in the Armenian parliament today.
According to Bagratyan, the amount of a bank’s capital is extremely important for activities of banks. “Big capital is presently concentrated in six countries, for a purpose. It is a mockery, rather than a mistake,” the deputy said stressing the CBA does not work at all.
“We were at first told about consolidation, which is absent today. Now they place restrictions and do not allow anyone to open a small bank. How are you going to support small businesses by using restrictions on banks?” Bagratyan asked.
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