(ArmInfo) - The International Currency Fund recommends the RA Central Bank to increase the transparency of activities of the Republic's commercial banks.
As the ICF's representative in Armenia, Nienke Oomes, said at today's press-conference, is it offered to submit the changes in the Law on banking secret to the Parliament till the end, 2006, reports Trend.
These changes must take effect starting 2007 and allow the CB to publish the lists of "bad" and "good" banks. She added the CB is applying sanctions at present with respect to the banks which break the Law on banks and the banking activity. However, the adoption of changes in the legislation will allow to make this process public.