THE LEGAL NATURE OF BANKING SECRECY
Improving the quality of legal support for banking activities is an important issue in the development of public relations in the financial and credit spheres. The development of the RA economy and the stable political growth of the state largely depend on its reliable functioning.
At the same time, the trust of citizens and legal entities in the banking system ensures the effectiveness of its functioning and is an integral component of economic development, as well as ensuring the financial security of the state. The dynamics of the development of the banking system and economic and legal relations require constant improvement of banking legislation, its norms, and institutions. In the process of socio-economic development and reforms in the Republic of Armenia, the role and importance of the banking system as a guarantee of state financial sovereignty are practically increasing. The development of the banking spectrum of the economy, the effective implementation of banking activities is impossible without the presence of progressive legislative regulation of public relations arising in connection with the protection of information constituting a banking secret.
At the same time, in the field of public jurisprudence, legal revelations of such a legal institution of banking law as “banking secrecy”, which is of key importance in the system of legal regulation of banking activities, remained in the shadows.
Therefore, the article examines the institution of banking secrecy as a financial and legal term, its features, and its legal nature.
Keywords: banking secrecy, credit organizations, legal regime, protection of confidential information, business information․
PAGES : 80-87