ACRA TO PASS TO CORPORATE GOVERNANCE PRINCIPLE

   YEREVAN, APRIL 6, ARMENPRESS: ACRA Credit Bureau, established to
provide risk assessment solutions to financial institutions and
commercial entities, said it will pass soon to corporate governance
system after being reorganized in May 2004 into a closed joint stock
company in an effort to attract the stakeholders of Armenian
financial community.
   Lusine Vardanian, head of marketing and public relations
department, said ACRA will have an advisory board with participation
of the EBRD, USAID, German KfW bank. She said negotiations are
underway with World Bank to attract its representative in the
advisory board, which she said would be a weighty factor in terms of
attracting new investments in Armenia’s economy. She also said
presence of these institutions in the advisory board is evidence of
ACRA’s transparency.
   She said also Dun&Bradster and German Schufa credit bureaus, which
according to Vardanian, also provide a broad range of related
information to their clients, are expected to invest in ACRA. ACRA is
expected to join the European Credit Bureaus Association.
   Among main services of ACRA are development and maintenance of
complete, reliable, and up-to-date database, market-driven decision
making processes, innovative spirit, application of progressive
technologies, etc.
   The principle of corporate governance was developed in
collaboration with Grant Thornton International (France) as a
component of its development plan, which reflects its overall
attitude towards developing sound management and business
environment, corresponding to internationally accepted standards
among successful corporations, including credit bureaus.

–Boundary_(ID_59W1/WLlX5rSpTlVXRyEMQ)–