ARKA News Agency, Armenia
March 10 2006

FIRST SESSION OF “UNION OF PARTICIPANTS OF MORTGAGE MARKET OF
ARMENIA” TO TAKE PLACE ON MARCH 17

YEREVAN, March 10. /ARKA/. The first session of the “Union of
Participants of Mortgage Market of Armenia” will take place on March
17. Such decision was made today during the constituent assembly of
the Union in Yerevan.
One of the founders of the Union, Executive Director of the
“Armeconombank” Ashot Osipyan stated that elections of the Executive
Director of the Union will be held during the first session of the
Union as well as structural issues will be discussed.
Besides that, in his words, they intend to discuss the working
program of the activities of the Council of the “Union of
Participants of the Mortgage Market of Armenia”.
The founders and the members of the Union are 8 commercial banks
(“Armeconombank”, “Areksimbank”, “Yunibank”, “Ararat bank”,
“Arminvestbank”, “Armenian Bank for Development”, “Armswissbank”), 4
insurance companies (“Sil Insurance”, “Private Insurance”, “Nairi
Insurance”, “Prime Insurance Brokers”), 2 financial organizations
(universal credit organizations “Washington Capital” and “First
Mortgage Company”) and 4 real estate agencies (“Alta VIP”, “M&M”,
“Premier Realty”, “Elephant Realty”). S.P. –0–