Republic of Armenia Law on Banks and Banking

This document provides the law that governs banks and banking activities in Armenia. It defines the:

• Procedure and provisions for registration;
• Licensing, regulation and suspension of activities;
• Supervision of the banks registered in Armenia, branches of foreign banks, and representative and operation offices of the banks.

The document states that the main objectives of this law are to:

• Develop the banking system;
• Promote safety and regular operation of the banks;
• Establish grounds for free economic competition between the banks.

The articles of the law deal with:

• Organization, structure and governance of banks;
• Procedure of licensing the banks;
• Regulation of banking activities;
• Banking norms;
• Balance sheet, accounting, reporting and supervision;
• Violations of law and penalties.

The final articles of the law deal with restructuring and liquidation of banks.