Regulatory Alerts2025-04-22 | 8415Removal of Upay CJSC Branch Offices from Recordkeeping
The Central Bank of the Republic of Armenia issued Board Resolution No. 64 A on April 22, 2025, to remove four branch offices of Upay CJSC from official recordkeeping. The decision follows a formal request submitted by the payment and settlement organization on April 9, 2025, seeking the deregistration of its Kentron 4, Shengavit 1, Qanaqer, and Jrvezh branches. This administrative action was enacted pursuant to specific articles of the laws governing the Central Bank and payment systems in Armenia.
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