ARMENIAN CB REVOKES MIGOM SYSTEM’S LICENSE

tert.am
07.09.12

Armenia’s Central Bank (CBA) has revoked the license issued to the
Migom system for operating in Armenia.

Since 2008, without any explanations, the system has repeatedly
blocked the access for a number of banks operating in Armenia.

The CBA believes that Armenian financial organizations’ cooperation
with the system threatens the country’s financial stability.