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At September 8 sitting moderated by Artak Manukyan, the RA NA Standing Committee on Financial-Credit and Budgetary Affairs discussed a number of bills and international agreements concerning the banking system, involvement of deposits and consumer crediting.

The Committee members endorsed two legislative initiatives authored by the deputy of the RA NA Prosperous Armenia faction. The draft law on Amending the Law on Guaranteeing the Compensation of the Physical Persons Banking Deposits proposes the amounts of the banking deposit compensation guaranteed by the acting legislation.

The necessity of the adoption of the bill on Amending the RA Law on Bankruptcy of the Banks, Loan Organizations, Investment Companies, Investment Fund Governors and Insurance Companies was noted.

The draft law on Making Amendments and Addenda to the RA Civil Code authored by the RA NA Bright Armenia Faction was discussed in the second reading.

The draft law on Making Addenda to the RA Law on Consumer Crediting authored by the same Faction was discussed in the first reading.

The majority of the Committee members was against it, and the Government did not present the endorsement. The key speaker postponed the debate and voting of the two draft laws was postponed up to two months.

The bill on Making Amendments and Addenda to the RA Law on the Banks and Banking Activities authored by the NA deputy Artak Manukyan was discussed in the second reading.

The co-speakers the NA deputy Yeghishe Soghomonyan and the CB Deputy Chairman Nerses Yeritsyan highlighted the adoption of the draft law and called on to vote for it. The draft law was endorsed.

The RA Deputy Chairman of the State Revenue Committee Mikayel Pashayan presented for debate the draft law on Ratifying the Credit Agreement of Meghri Border Checkpoint signed between the Republic of Armenia and the European Bank for Reconstruction and Development signed on 7 February 2020.

The draft law on Ratifying the Agreement on Financial Cooperation of 2018 between the Government of the Republic of Armenia and the Government of the Federal Republic of Germany signed on 7 April 2020 was also discussed. As the RA Deputy Minister of Economy Varos Simonyan has assured, the FRG Government gives an opportunity to the RA Government to involve credit means and financial assistance for implementing a number of programmes from the Reconstruction Credit Institute (KfW).
 

The MPs endorsed the international agreements.