Mother See of Holy Etchmiadzin press office has accepted the existence of an account with the HSBC Bank in Switzerland registered in the name of His Holiness Karekin II. On February 8, the Washington-based International Consortium of Investigative Journalists (ICIJ) released details from 60,000 leaked files on more than 100,000 client accounts (individual and legal) with the British banking giant HSBC. Among the 61 clients profiled on the ICIJ website is the Supreme Patriarch and Catholicos of All Armenians and head of the Armenian Apostolic Church, Catholicos Karekin II, according to Armenian Weekly.
According to the ICIJ, HSBC files revealed that Karekin II was first listed among its clients in 2000. The profile states, "He was connected to an account named 'His Holiness Karekin II Nersis' that listed one bank account and held as much as $1.1 million in 2006/2007." According to the report, the leaked files do not specify the exact role that Karekin II had in relation to the account. A spokesperson for Karekin II Vahram Melikyan told the ICIJ that the account was opened by his predecessor "for the benefit of the church and its charities. This account was transferred to His Holiness Karekin II Nersissian upon the death of his predecessor to be used for the same purposes. The Catholicosate-the area of responsibility of the Catholicos-of the Armenian Church is a national religious institution and is not subject to any taxes," and that His Holiness "has immunity from any taxes."