Կենտրոնական բանկ

B O A R D O F T H E C E N T R A L B A N K
O F T H E R E P U B L I C O F A R M E N I A
R E S O L U T I O N
23 September 2025, No. 169 A

ON REMOVING FROM REGISTRATION “STEPANAVAN” AND “MARTUNI” BRANCHES OF “UPAY” CLOSED JOINT-STOCK COMPANY

Guided by Part 3 of Article 2 and point "ac" of Article 20 of the Law of the Republic of Armenia “On the Central Bank of the Republic of Armenia”, and point "a" of Part 5 of Article 21 of the Law of the Republic of Armenia “On Payment and Settlement Systems and Payment and Settlement Organizations”;
Taking into account that “UPAY” Closed Joint-Stock Company applied to the Central Bank of the Republic of Armenia on 12 September 2025 to remove from registration the “Stepanavan” and “Martuni” branches of the Company, the Board of the Central Bank of the Republic of Armenia hereby;

R E S O L V E S:

1. To remove from registration the “Stepanavan” and “Martuni” branches of “UPAY” Closed Joint-Stock Company.
2. This Decision shall enter into force on the date of its signing.

Governor of the
Central Bank of the Republic of Armenia                             Martin Galstyan

Yerevan

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