CBA bans Russian payment system in Armenia

CBA bans Russian payment system in Armenia
October 9, 2012 - 13:49 AMT

PanARMENIAN.Net - The Central Bank of Armenia (CBA) board has resolved to declare Zolotaya Korona Russian payment system’s license for transactions in the Republic of Armenia expired.

According to CBA official website, the inspections revealed that Zolotaya Korona has repeatedly restricted Armenia-based banks’ access to its payment system without issuing any explanation.

The CBA filed a note to the operator, urging it to immediately fix the problem. The payment system was also warned of the possible consequences in case of failing to address the violations.

Seven partner banks currently make money transfers through Zolotaya Korona system, with 260 outposts operating in the republic.

Partner news
 Top stories
Armavia’s debt to Zvartnots airport estimated at $5,5 mlnArmavia’s debt to Zvartnots airport estimated at $5,5 mln
Dwelling on Armenian government’s lawsuit against the airline company, Andranik Shkhyan said the airport is ready to join the initiative.
Israel’s Arkia Israeli Airlines to enter Armenian marketIsrael’s Arkia Israeli Airlines to enter Armenian market
Zvartnots airport will host a press conference on May 24 on the operation of Tel Aviv-Yerevan- Tel Aviv flights.
Energy price may increase by AMD 7-8 per kilowattEnergy price may increase by AMD 7-8 per kilowatt
“The increase for energy tariffs is prompted by a price hike for gas used in production,” Garegin Baghramyan said.
Gas price likely to be set at AMD 156 per cubic meterGas price likely to be set at AMD 156 per cubic meter
Earlier, ArmRosgazprom CJSC addressed Armenia’s Public Services Regulatory Commission with an offer to reconsider natural gas prices.
Partner news
 Articles
Overview: Armenian economy 2012

Brief overview of main economic events of 2012 in Armenia

 Most popular in the section
U.S. employment rises more than expected in April
Gazprom oil giant granted right to explore 4 Arctic gas fields
Ford decides to surpass its hybrid sales record this year
Portugal to make $6.3bn in cuts to avoid another bailout
Home
All news
Overview: Economy
Archive for October 9, 2012
Other news in this section
 Latest news
Israeli security expert says Syrian hacker attack foiled Israel refuses to comment on the strike but officials at the time said Iranian missiles set for Hezbollah were hit.
Gyumri to host Europe Day celebrations The celebrations will feature a small information fair, with EU project representatives to brief the visitors on the initiatives launched.
1st Armenian interactive fairy tale available for iPhone/iPod Touch The tale sparked great interest in Diaspora. Such projects, namely interactive version of “Alice in Wonderland”, are popular abroad.
Expert says Russian FM’s remarks in context of Madrid Principles No decisive developments will follow the meeting between Russian and Azerbaijani foreign ministers, David Jamalyan said.