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At November 9 sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs, the Vice Governor of the RA Central Bank Vakhtang Abrahamyan presented the draft law on Non-Cash Transactions and the legislative package designing amendments and addenda to a number of enclosed laws.

Vakhtang Abrahamyan presented the statistics of the card infrastructures, touched upon the qualitative and sum indices of the card transactions. The index does not include the transactions with E wallets.

The RA CB Vice Governor noted that the draft law was debated with all concerned forces. The idea is that the entity has no right to refuse the demand of paying for non-cash transactions. Restrictions were designed while carrying out some cash transactions. Cash transactions should not be carried out between the legal entities. There are exceptions in these series: any payment being done from the state or the local self-government budgets should be exclusively non-cash.

In case of loans being provided by the pawnshops 20.000 AMD threshold, the banks and the loan organizations should provide the credits and loans exclusively in non-cash way. The payments for the services by the lawyers and the notaries, as well as the payments made in the educational and medical institutions should also be non-cash.

The MPs Babken Tunyan, Vakhtang Abrahamyan, Tsovinar Vardanyan, Artur Khachatryan, Artsvik Minasyan, Artur Davtyan, Arusyak Manavazyan made proposals and observations on the draft law.

The Committee Chair Gevorg Papoyan informed that the Committee has received numerous proposals. He is convinced that proposals on the draft law will be from the first to the second reading, it would be revised. He has emphasized the reduction of the shadow and has assured that the public interest is on the basis of the law adoption.

The legislative package was endorsed by the Committee.

The item on Presenting Endorsement to the National Assembly on the draft law on the RA State Budget for 2022 was debated and approved.