Even the 'criminal regime' did not resort to such an assault on banking secrecy: Marukyan

The head of the LHK faction in the National Assembly, Edmon Marukyan, made a statement regarding the legislative initiative on banking secrecy.

“The government’s economic team has once again ‘shone with its flights of thought.’ The already shaky foundation of the banking secrecy institution in Armenia is receiving a final, deadly blow. A new legislative draft has been published today, which completely abolishes banking secrecy. According to this draft, banks are obliged to provide information on individuals' bank accounts and the amounts contained therein to tax authorities. Previously, this was only possible with a court permit.

We are already facing huge economic problems. Now, we are driving away all business entities and individuals who have kept financial resources in Armenian banks. The consequence of passing this draft will be that everyone will withdraw their financial resources from banks and will avoid engaging in business in Armenia. Is this what you want? Even the ‘criminal regime’ did not resort to such an assault on banking secrecy. Immediately annul the Banking Secrecy Law and end all this,” Marukyan wrote.