Minister of Justice Grigor Minasyan and Governor of the Central Bank Martin Galstyan sign Memorandum of Understanding to ensure process of digitisation and reduce time limits for unblocking

The co-operation between the Ministry of Justice and the Central Bank for unblocking of citizens' accounts within the shortest possible period, has entered the second stage; within the scope of the plan to lift, within a maximally short period, the attachments imposed by the Compulsory Enforcement Service under enforcement proceedings due to payments made by citizens in commercial banks, the Ministry of Justice and the Central Bank have signed a Memorandum of Understanding for ensuring formatted filling out of data on payments made under enforcement proceedings.

It is envisaged to introduce a new electronic toolkit, which will help to ensure identification of the payments made by citizens in commercial banks and payment and settlement organisations with specific enforcement proceedings within the shortest possible period.

As a result of realisation of the new digital solutions, automatic reduction of enforcement proceedings and lifting of attachments within the shortest possible period (1-2 days instead of the previous 7 and more days) based on the payments made by citizens in banks will be ensured.

Within the scope of the Memorandum of Understanding, the Ministry of Justice, represented by the Compulsory Enforcement Service, has assumed willingness to develop the specified software and provide it to the Central Bank, and the Central Bank has assumed the willingness to transfer the mentioned software to commercial banks and payment and settlement organisations.