Western Union international money transfer system is prohibited in Armenia

August 25 decision of the Armenian Central Bank the Western Union international money transfer system is prohibited in Armenia. The CB Council decided to prohibit participation of the Armenian banks in the mentioned system and annul the contracts with it. The decision is motivated by the Armenian banks’ risk management. In reality, it all started after Azerbaijan protested the fact, that Western Union, Money Gram and other money transfer systems are operating in the territory…

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Tigran Sargsyan: new type of politician trying to make the new type of Armenia a reality

Following his appointment to the post of Prime Minister after a disputed presidential election, in a divided society torn apart by political instability and mutual accusations for March 1 violence, Tigran Sargsyan, the former head of Armenia’s Central Bank has been dominating the news and politics – the PM has been making media bubbles by loud and populist actions, like forcing Armenian ministers to come to work at 9 a.m and promising to be more…

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Armenian Bloggers initiate boycott of Vneshtorgbank

Armenian bloggers have initiated a boycott of VTB Bank Armenia and are inviting everyone to join the action. Better known as “Savings Bank of the Republic of Armenia” (Armsavingsbank) was founded in 1923 and was the pillar of Soviet Banking system and law obedient Soviet citizens were encouraged to hold their savings there – which was one of the reasons, why after the collapse of the USSR and downfall of the Soviet Ruble it had…

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