Getting Statements from Banks Will Become Free: Central Bank

Considering the feedback received from consumers, the Council of the Central Bank has made an amendment to the "Rules of Business Conduct for Financial Organizations" regulation 8/05. This information has been announced by the Central Bank of the Republic of Armenia.

With the new regulation, any individual will be able to obtain statements from commercial banks regarding their bank accounts, balances, as well as the existence or absence of mutual obligations with the bank.

The statement will be provided electronically free of charge, while the paper version will be available for free at least once during each calendar year.

The purpose of the regulation is to reinforce individuals' right to access information regarding their status within the banking system, ensuring the availability of such statements, and enhancing the accessibility and transparency of financial services.