HAYKAKAN ZHAMANAK: ARMENIAN BANKING SYSTEM MAY BE AFFECTED BY CYPRUS CRISIS
12:08 21/03/2013 ” DAILY PRESS
The Cyprus financial crisis may affect Armenian banking system,
Haykakan Zhamanak says.
“A considerable part of doubtful Armenian capital is kept in
the Cypriot banks. This capital mainly belongs to senior Armenian
officials, who invest these sums in Armenia through Cyprus as foreign
capital. Thus, they manage to keep their property secret. According
to official data, investments from Cyprus in Armenian banking system
total $84m,” the paper says.
Source: Panorama.am
From: Emil Lazarian | Ararat NewsPress
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