The new draft law on Fight against Money Laundering and Financing Terrorism set a limit on property deal in the amount of 50 mln dram ($100,000) beyond which reports should be made on the origin of the income.
The head of the CB Tigran Sargissian told the first reading of the draft law that the this provision is conditioned by the sharp rise in property market and flow of considerable finances from abroad to that market. T. Sargissian once again stressed that the draft law on fight against money laundering and financing terrorism is completely based on international conventions which NA has already ratified.