Areximbank-Gazprombank Group expects 20% rise in 2012 remittancesMarch 2, 2012 - 11:16 AMT PanARMENIAN.Net - Despite some decline in remittances in 2011, a 20 per cent rise is expected this year, deputy general director of Areximbank-Gazprombank Group CJSC Ruben Khachatryan said. “Following the crisis, Armenian bank system records significant decline in remittances over the past years. Two key factors contribute to this: first, the international financial crisis and second, tough competition between the banks,” he said. Khachatryan noted that almost all banks offer international money transfer service to their clients, and the conditions are almost the same. “Market is overloaded by the supply; therefore, demand is also declining. Such was the case in 2011in our bank as well. Remittances of natural persons through various money transfer system were cut by 20% making AMD 5 billion against AMD 6.2 billion in 2010,” he mentioned. Currently Areximbank provides international money transfer services through “BYSTRAYA POCHTA”, “MIGOM”, “CONTACT”, “MONEYGRAM”, “BLIZKO” systems. The bank intends to connect to ANELIK and UNISTREAM systems in the near future; also, negotiations are underway with another payment system which ensures 50% of remittances in Russia and CIS states. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |