The Financial, Georgia
Dec 26 2007

Armenian CB Board recognized as having lost validity the license of
`Cascade Insurance’ for life ins

26/12/2007 11:58

The FINANCIAL — According to Banks.AM, board of the Central Bank of
Armenia recognized on December 25 as having lost validity the life
insurance license of `Cascade Insurance’ CJSC, granted on December 30
of 2004.

As Mediamax was told in the CB press service on December 25, during
session on December 25 the Board also made changes and amendments in
the order `On operations, realized with cash in the Central Bank of
Armenia’, in the 2nd code of rules `Regulation of banking activities,
the basic economic norms of the banking activity’ and in the 3rd code
of rules `Banks reports, their presentation and publication’.