Yerevan, December 25 /Mediamax/. Board of the Central Bank of Armenia recognized today as having lost validity the life insurance license of “Cascade Insurance” CJSC, granted on December 30 of 2004.

As Mediamax was told in the CB press service today, during today’s session the Board also made changes and amendments in the order “On operations, realized with cash in the Central Bank of Armenia”, in the 2nd code of rules “Regulation of banking activities, the basic economic norms of the banking activity” and in the 3rd code of rules “Banks reports, their presentation and publication”.