CB: Armenian banks don\'t have correspondent accounts in Iran and Mellat Bank operating in Armenia

22.08.2012 | 13:08 Home / News / News /

Yerevan/Mediamax/.Reuters\'s article is a result of a non-professional analysis, said the head of the Financial Monitoring Center of the Central Bank of Armenia Daniel Azatyan.

Daniel Azatyan noted that as lack of relations with Iranian banks and companies is a precondition for Armenian banks to cooperate with the EU and American banks, not a single Armenian bank has a correspondent account in Mellat Bank and correspondent ties with banks or financial organizations registered in Iran, Mediamax reports.

It\'s true of ACBA-Credit Agricole Bank as well which makes transactions with Iranian individuals and companies, Reuters notes.

\"As for Mellat Bank in particular, mainly small and medium entrepreneurs involved in a trade turnover between Iran and Armenia, tourists and students are its customers. Though the bank\'s assets reduced by about 50% due to international sanctions the bank has healthy results and they don\'t give grounds for stopping of its operation in Armenia\", stressed Daniel Azatyan.
According to him, the Armenian side has repeatedly discussed with its Western colleagues the banking relations between Armenia and Iran and as there are close trade relations and mutual trade turnover between the two countries it\'s obvious that it should be funded through the banking system. Daniel Azatyan also noted that in terms of money laundering, Armenia have never been included into the list of countries of risk getting official warnings.


Reuters agency published an article yesterday according to which Iran tries to violate sanctions imposed on its financial system through Armenian banks.

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