CBA warns against participating in MMM 2011 financial pyramid

CBA warns against participating in MMM 2011 financial pyramid

PanARMENIAN.Net - The Central Bank of Armenia disseminated a message, which warns the population about the operation of MMM 2011 financial pyramid in the republic.

According to the CBA message, the scheme’s ideology is based on return of investments with high interest rates in case of attraction of new ones.

“CBA doesn’t issue license for pursuing such activity. CBA warns citizens and organizations about the risks the financial scheme poses to loss of significant means and properties,” the message reads.

 Top stories
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
It also signed 33 Reimbursable Advisory Service agreements with 11 countries in the region for a total amount of $45 million.
“Under a new deal to be signed, Russia is expected to provide a $300 million loan to extend the NPP’s service life,” Yervand Zakharyan said.
Etihad Airways’ Senior VP said the new flights catered for the significant and growing demand for travel between the UAE and Armenia.
Partner news