ARMENIAN CB TO IMPLEMENT NEW ELEMENTS OF SUPERVISION OVER THE BANKING ACTIVITIES

Mediamax Agency, Armenia
Feb 5 2007

Yerevan, February 5 /Mediamax/. The Central Bank of Armenia intends
to have the Armenian commercial banks secure transparent activities,
CB Chairman Tigran Sarkisian stated in Yerevan today.

Mediamax reports that speaking at a news conference in Yerevan today,
Tigran Sarkisian noted that in 2007 the CB will implement new elements
if supervision over the banking activities.

Corresponding legislative changes will be presented to the Armenian
parliament, according to which the banks will have to be open not
only for the Central Bank, but also for the society.

Tigran Sarkisian noted that the Central Bank commits itself to
gathering all the tariffs and the services of commercial banks into
one single document and present it to the society.

In 2007, the Central Bank will also publish all the administrative
measures towards this or that bank and the reasons for using those
measures. Tigran Sarkisian believes that this will allow increasing
the trust of the population towards the banks and will make their
activities more predictable and open for the society.