On December 23, 2024, Hetq sent a request to Armenia’s Central Bank, trying to clarify whether the sale of public transport tickets and packages by Tel-Cell contradicts the company's license.

The bank is investigating the compliance issue.  

The bank initially requested thirty days to respond to Hetq’s request.

 On January 17, Hetq finally received the bank’s answer.

The bank noted that Tel-Cell received a license "to carry out monetary (money) transfers" and "to process and clear payment instruments and payment and settlement documents" by the decision of the Central Bank of the Republic of Armenia dated July 24, 2007, and then by the decision of the Central Bank of the Republic of Armenia dated February 19, 2016. received permission to issue electronic money by decision.

The bank, however, avoided giving a clear assessment as to whether the sale of public transport tickets can be organized with this license. At the end of the response, it was only stated:

“As for the questions you have raised, we inform you that the Central Bank of Armenia is currently continuing its studies, and the Central Bank will present its position within the limits of the powers reserved to it by law.”

On April 7, Hetq sent another request to the bank. Martin Galstyan, the bank’s director, sent the same response: studies are continuing.

The bank, it appears, still was unable to specify whether the activities conducted by “Tel-Cell” contradict its license or not.

Why the bank still avoids answering the question about Tel-Cell and whether there is pressure on the bank is unknown.

Meanwhile, Tel-Cell continues to sell public transport tickets and ticket packages.