The Central Bank of Armenia (CBA) has taken serious steps to reduce risks in banking system, specifically through the struggle against dollarization, according to CBA President Artur Javadyan.

At all- Armenian conference of bankers and financiers held October 17-19 in Yerevan, CBA President characterized struggle against dollarization as one of the challenges in Armenian banking system.

“We’ve initiated serious alterations in regulation and control over dollarization, implementing new mechanisms and introducing changes in banking norms,” CBA President stated.

All- Armenian conference of bankers and financiers, hosting 100 participants from 10 countries worldwide, aims at activation of banking sphere through creation of All Armenian Union of Bankers and Financiers.