Central Bank Issues Statement

The Central Bank of the Republic of Armenia has issued a statement: “As is known, starting from July 1 of this year, the Law on Cashless Transactions in the Republic of Armenia (hereinafter referred to as the Law) will come into effect. According to the Law, transactions exceeding 300 thousand AMD in the territory of the Republic of Armenia must be conducted in cashless ways. Moreover, for certain transactions, such as pension payments, state procurements, medical, educational, notarial, and legal consulting services, a requirement has been established to conduct them entirely in a cashless manner. Salaries, as well as loans and borrowings provided by banks and credit organizations, will also be cashless. The repayment of provided borrowings and insurance compensations will also take place in a cashless manner.

We inform you that two of the commercial banks operating in the Republic of Armenia, namely ACBA Bank and Ameriabank, have undertaken and implemented extensive investments and activities to activate the system for accepting cashless payments through POS terminals at the recipients' locations based on the discussions held between the Central Bank of the Republic of Armenia and the banks.

We inform you that you can apply to the mentioned banks to receive corresponding services. At the same time, tax payers who have not had such an opportunity until now can also benefit from the mentioned system at the lowest possible rates. Tax payers will also receive relevant notifications about this information via the