Regulatory Alerts2025-02-25 | 8048Removing Arabkir 3 Branch Office of Upay CJSC from Recordkeeping
The Board of the Central Bank of the Republic of Armenia issued Resolution No. 25 A on February 25, 2025, to remove the Arabkir 3 Branch Office of Upay CJSC from official recordkeeping. This administrative action follows a formal request submitted by Upay CJSC on February 13 and 17, 2025, pursuant to relevant provisions of the Laws On the Central Bank and On Payment Systems. The resolution mandates that the removal of the branch office becomes effective starting March 1, 2025.
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Removing “Arabkir 3” Branch Office of “Upay” CJSC, a Payment and Settlement Organization, from Recordkeeping
2025-02-25
THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA
BOARD RESOLUTION
February 25, 2025 ; No.
25 A
Removing “Arabkir 3” Branch Office of “Upay” CJSC, a Payment and Settlement Organization, from Recordkeeping
Pursuant to Article 2 (3) and Article 20 (“ki”) of the Republic of Armenia Law “On the Central Bank of the Republic of Armenia”, and Article 21 (5) (“a”) of the Republic of Armenia Law “On Payment Systems and Payment and Settlement Organizations”; Whereas on February 13, 2025 and February 17, 2025 “Upay” CJSC, a payment and settlement organization, submitted a letter of request, along with required documents/deliverables, to the Central Bank of the Republic of Armenia, asking for removal of its “Arabkir 3” Branch Office from the recordkeeping, the Board of the Central Bank of the Republic of Armenia
E n a c t s:
Remove “Arabkir 3” Branch Office of “Upay” CJSC, a Payment and Settlement Organization, from the recordkeeping.
This resolution to take effect starting March 1, 2025.
Martin Galstyan
Governor,
Central Bank of the Republic of Armenia
Yerevan
.