Annual Report 2019
Opening and managing correspondent accounts in foreign
financial institutions
Opening and maintaining customer correspondent
accounts and other accounts.
Implementation of other operations, including supplies for
the needs of the Central Bank, sale of monetary values,
exchange of banknotes.
The above aspects require that the Compliance Service examine
the Central Bank customers, international partners, suppliers, confirm
high-risk transactions and business relations, conduct analysis of
suspicious transactions and business relations, and then make
decisions on rejection, termination, suspension of transactions/
business relations, and/or decisions on freezing the property of
persons connected with terrorism. In addition to the above, the
Compliance Service also:
reviews and assesses the risks associated with compliance
with the Central Bank operations, and takes measures to
prevent identified risks
represents the Central Bank in relations with foreign
financial organizations and international organizations
provides advice on compliance issues to the Central Bank's
management and departments concerned
undertakes educational and awareness-raising activities for
making compliance policy a well-established culture in the
Central Bank.
When performing its functions, the Compliance Service is directly
reportable to the Governor of the Central Bank, which aims to ensure
the highest degree of independence and impartiality in decision-
making.
ANNUAL
REPORT 2019
79
COOPERATION WITH I
NTERNATIONAL ORGANIZATIONS
INSTITUTIONAL
DEVELOPMENT
OTHER OBJECTIVES OF
THE BANK
MAIN
CENTRAL BANK OF
OBJECTIVES
THE REPUBLIC OF ARMENIAView entire presentation