Armenia to protect own citizens’ banking secrecy in EEU19.08.2015
YEREVAN. – Armenia has approved a protocol on data exchange between financial regulators of the Eurasian Economic Union (EEU) member states (Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan).
Deputy chairman of the Central Bank of Armenia, Nerses Yeritsyan, introduced the respective draft at Tuesday’s Cabinet session.
Accordingly, data regarding financial systems of the EEU countries and date with respect to transactions whose circulation is permitted in the equity markets of other countries will be subject to exchange.
“[But] we have agreed on the cases when the regulator has the right not to provide information to associates,” added Yeritsyan. “These include evidence containing banking secrecy of Armenia’s citizens and enterprises, if the Republic of Armenia does not see a need for it.”