Bankers and financiers strengthening Armenia-Diaspora ties

Yerevan hosted the first ever All-Armenian conference of bankers and financiers, which brought together 100 participants from 10 countries.

On October 17-19, Yerevan hosted the first ever All-Armenian conference of bankers and financiers, which brought together 100 participants from 10 countries.

PanARMENIAN.Net - “Such forums unite the Armenian nation, when the world is challenged by terror threats, natural disasters and poverty. We also experience problems with civil and democratic institutions as well as governance system,” Diaspora Minister Hranush Hakobyan said in her opening remarks.

“The banking system of Armenia is one of the republic’s major achievements. The solid banking system along with the government’s anti-crisis program helped secure our population from severe shocks,” she said.

Minister Hakobyan called on Diaspora bankers to share experience with local financiers for further development of the Armenian expert and investment policy.

The President of the Central Bank of Armenia, Arthur Javadyan, believes that creation of all-Armenian network will help strengthen Armenia-Diaspora ties and develop Armenia’s financial market.

“The goal of the participants of all-Armenian conference of bankers and financiers is to unite knowledge and experience for the glory of the homeland,” he said when addressing the conference. “Mere wish is not enough. We need trustworthy financial services and efficient mechanisms to attract foreign investments in Armenia. Small countries like Armenia can base on high-tech industries. Despite numerous challenges, we can firmly say that Armenia has healthy financial system, which holds regional leadership, according to the Global Competitiveness Report 2010-2011.”

Javadyan also informed that a regional research and educational center of the CBA is being constructed in Dilijan resort to host various seminars, conferences and programs for both Armenia’s and region’s financial and banking systems.

All-Armenian Association of Financiers and Bankers comprised of financiers from Diaspora, as well as representatives of Armenian ministries, Central Bank and Union of Banks of Armenia was established based on the conference results. The Association will be revealing potential of Armenian financiers from Diaspora to be used for Armenia’s development while the Union of Banks of Armenia (UBA) will deal with organizational matters.

Another ambitious project is the establishment of All Armenian Bank. Preliminary authorized capital of the bank is set at USD 100 million, with Armenia having invested USD 20 million.

Hripsime Hayrapetyan / PanARMENIAN News
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