Law of the Republic Of Armenia on Credit Organizations

This document provides the Law of the Republic of Armenia on the credit organizations. It provides the provisions of the Law on:

• Registration and licensing of credit organizations;
• Regulation and supervision of the activity of credit organizations, including credit unions, savings unions, leasing and factoring organizations and other credit organizations;
• Changing the type of activity of banks;
• Submission and disclosure of financial statements, audit reports, information, and audits.

The document concludes that:

• The activity of credit organizations shall be subject to licensing within six months after the promulgation of the Law;
• The Law shall enter into force from the moment it is promulgated.