Central Bank Head on Denial of Loans to Artsakh Residents

During a session of the National Assembly, Garniq Danielyan, a member of the "Armenia" faction, raised concerns regarding the issues faced by citizens forcibly displaced from Artsakh, particularly related to the signing of insurance contracts and the possibility of obtaining loans from banks.

The MP noted that several citizens are encountering obstacles regarding insurance policies. “Insurance companies argue that the Central Bank does not allow the signing of insurance contracts,” he stated.

In response, Central Bank Head Martin Galstyan said he was unaware of the issue and suggested that the member of parliament provide specific instances so the Central Bank could follow up and help resolve them.

Danielyan indicated he would provide this information and emphasized that many banks are refusing to extend loans to Artsakh residents, citing that they previously had credit obligations in Artsakh. “What measures can the Central Bank take to ensure that these people can access loans here and are not deprived of their financial support opportunities?” the MP asked.

Galstyan acknowledged the importance of the issue raised, emphasizing that the banking system has made significant concessions in recent years to assist citizens facing difficulties caused by war and displacement. “Based on our assessments and work with banks, we do not see a systemic problem. The banking system has made concessions worth billions of drams to both war participants and the families of the deceased, the disabled, the wounded, and our compatriots displaced from Artsakh. However, that does not mean that there could not be individual cases that need to be considered separately and addressed,” Galstyan stated.