From this point forth, after paying the amount subject to confiscation, citizens will not have to wait another 7 days for the lien imposed by the Compulsory Enforcement Service to be lifted; now the lien will be lifted within 1 day thanks to the automated system introduced through the use of digital technologies

For years, citizens have righteously complained that they have had to apply to different circles even after making a payment and wait for days for the lien imposed by the Compulsory Enforcement Service on their properties and funds to be lifted.

Within the scope of the pilot programme of the Compulsory Enforcement Service and Converse Bank, an automated system has been launched thanks to which, in case there is a full amount subject to confiscation in the bank account on which lien is imposed, the amount will be confiscated and the lien on the bank account will be lifted within 1 working day instead of the previous one week.

Thanks to the digital solutions, when the Compulsory Enforcement Service sends a message to a bank about confiscation, from this point forth, the replies of the bank will be automatic, without human intervention, which will provide the opportunity to avoid possible mistakes and save time.

The automation system being newly introduced has a number of advantages — rapid and effective regulation of the relations between the Compulsory Enforcement Service and the bank within the scope of enforcement proceedings, more simplified administration, lifting of lien on bank accounts of citizens within a maximum short period and exclusion of the probability of making a mistake due to the human factor in the process of lifting the lien.

It should be noted that last week the Compulsory Enforcement Service also launched a similar pilot programme with IDBank. Thus, Converse Bank is the second in this chain of digitalisation.

The process will be ongoing until all banks of Armenia are included.