A1plus

| 19:44:25 | 11-05-2005 | Official |

THE BANKS WERE ORDERED TO SERVE THE RAPIDLY DEVELOPING ECONOMY OF THE
COUNTRY

Today Robert Kocharyan has had a working meeting with the heads of the
Armenian Commerce Banks. Robert Kocharyan has mentioned that although the
experts appreciate our banking system as a healthy one, there is still much
to be done, especially towards the enhancing of the system.

He has offered the bank heads to discuss in a sincere atmosphere all the
problems that hinder the quick development of the system, and also to refer
to the negative phenomena in the currency field and to the methods of their
prevention.

The main concern of the participants of the meeting was the disbalance
created as a result of the changing course of the Armenian currency as it
gives the shade economy a good chance to develop.

Robert Kocharyan has mentioned that they will be very strict in this sphere.
`There is information that some banks are in conspiracy with the exchange
spots. Let me tell you that in case of recording a concrete case the results
will be drastic for the bank’, underlined the President.

Robert Kocharyan has also mentioned that the final decisions about the
problems raised will not keep us waiting.