About 92,000 depositors receive pecuniary compensations in Armenia

8,199 citizens who had cash deposits in the Republican Bank of the Armenian SSR, former Savings Bank, received pecuniary compensations in 2016. The government provides certain sum for compensation on monthly basis. Afterwards, the calculations are made to figure out how many people from the overall registered depositors will be allocated those funds. On a side note, the relatives of late depositors are not eligible for compensation.

Individuals, born on or before December 31, 1931, who had Ruble deposits in the Republican Bank of the Armenian SSR (USSR Savings Bank), are entitled to receive compensations.  Only the deposits made until June 10, 1993, will be indemnified.

Citizens possessing the land plots that haven’t been used due to ‘Armenia’s defensive military operations’, as well as the residents of Armenia’s border areas, whose lands were targeted by adversary’s shelling, are also eligible for compensation. For this purpose, they should submit a document on registration in this area as of August 2014.

The deposit indemnity program has been in effect since 2006. There are overall 102,000 people eligible for compensation in the program’s list and 92,000 of them have been already indemnified.  Up to 8,000 people are indemnified for deposits annually.