Armenian trade financing banks must get the Central Bank’s permission before integrating into foreign financing systems. The Central Bank conducted some studies and found out that there are some uncertainties regarding the documents of Armenian trade banks and the exchange system of “Western Union”. In February, the Central Bank decided to prohibit Armenian banks (14 in number) to cooperate with “Western Union” starting from March 15th, “until the reforms made in the charters of those banks are not presented to the Central Bank”. After that, the banks were still showing active cooperation with “Western Union”. They even didn’t give any information to presses, reasoning that each little detail can hinder negotiations. However, “168 Hours” found out from the press department of the Central Bank that there is no longer a danger. Apparently, the banks have “fixed everything up” and have “come to terms” with the Central Bank and “Western Union”. As a result, the Central Bank council has decided not to shut down the system. As to what happened during this time, that remains a mystery.
