“Ara Shawardyan”: We Don’t Have Real Banks in the Country

“Ara Shawardyan,” representative of Armenians Christians in parliament, reported the lack of real banks in the country.

Ara Shawardyan, representative of the northern Armenian Christian community and member of the parliamentary economic commission, wrote in a post on the X network: “We do not have real banks in the country. Institutions called banks are investment companies that have been illegally granted banking authorities by the Central Bank with its responsibility.

According to preliminary review of the resolutions of the Supreme Council of Stock Exchange and Securities, the provision of billion-toman loans at cheap prices to board members of the organization was adopted during the period between the closure of the eleventh parliament and the formation of the twelfth parliament, when new supervisory members had not yet been appointed. A separate table.”

He also, emphasizing that real banks do not exist, continued his statements by writing: “These institutions have been given banking authorities such as attracting deposits and creating money.”

The authorities that the Central Bank has given them to attract people’s deposits have in many cases caused the capital of people in such institutions to be lost, but no organization, particularly the Central Bank, which has granted banking authority to these institutions, has defended people’s rights, and in many cases, their capital has not even been returned.