Banks in Armenia have not been instructed to refuse to serve Iranian citizens.
The Central Bank of Armenia does not prohibit banks from serving citizens of the Islamic Republic of Iran with any directive or normative act,” the CBA said in written comments to Public Radio of Armenia.
“The Republic of Armenia is closely cooperating with international financial institutions – the International Monetary Fund, the World Bank and is member of the Council of Europe's MONEYVAL monitoring body,” the Bank said.
According to law, the Armenian banks have to carry out customer risk assessment, classify those who are in contact with non-complying countries as high-risk customers and take steps to conduct a deeper analysis.
The Central bank said that banks might refrain from serving a group of customers, taking onto consideration the restrictions enforced by partner and correspondent banks and does not rule out citizens of Iran could be among such clients.
“This approach is not new and has been applied before during sanctions that were in place years ago,” the CBA said.
The Bank said the “stir is not natural” and pursues the private interests of a certain group or groups.
Armenia's acting Prime Minister Nikol Pashinyan told a press conference on Tuesday that "Armenia ses no need in reconsudering its relations with Iran."