Online platform for data exchange between depository and notaries to be launched in Armenia.

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YEREVAN, November 1. /ARKA/. CEO of the Central Depository of Armenia (CDA) Ani Makaryan and President of the Notary Chamber Lilit Muradyan signed an agreement to launch a new electronic data exchange platform, the press service of the Armenian Stock Exchange reported./pp

The platform will allow a notary to send requests to the Central Depository to request information on the shares of securities and pension funds of the testator, as well as to exchange data contained in the certificate of inheritance rights./pp

This procedure was approved by the Minister of Justice on September 5, 2023./pp

CDA manages a unified system of accounting and settlements for securities, which also includes maintaining the register of participants in pension funds./pp

Since securities and shares of pension funds are the property of citizens, notaries often apply to the CDA to mqake inheritance transactions. Previously, this process was paper-based, time and resource consuming./pp

This new electronic platform will significantly improve the process by allowing notaries and the CDA to exchange data online. This exchange speeds up the process of providing information, ensures data security and simplicity, and reduces the time it takes to submit inheritance certificates and transfer property./pp

The new platform also allows for the online transfer of inheritance certificates, significantly shortening a time-consuming and often complex process, ensuring that heirs receive their property quickly and safely./pp “One of our goals is to increase the efficiency of information exchange with our partners by using modern electronic and digital solutions that will not only simplify processes, but also provide faster, more accurate and convenient service,” said CDA CEO Ani Makaryan./pp

This initiative is the first step towards introducing modern, technologically secure and fast inheritance processes in Armenia, contributing to the protection and enforcement of citizens’ property rights. -0-/p