ARMENIAN CB BOARD PERMITTED "CONVERSE BANK" TO ESTABLISH A UTS TRANSFER SYSTEM

Mediamax agency, Armenia
via Banks.am
Feb 7 2007

Yerevan, February 8 /Mediamax/. The Board of the Central Bank of
Armenia gave "Converse Bank" a permission to establish and realize
the activities of the Armenian payment and account system "United
Transfer System" (UTS).

As Mediamax was told in the CB press service, the decision was made
February 6, during the session of the CB Board.

The CB Board also made changes and amendments in the document
"On minimal conditions of realizing inner control in the banks",
"Regulation of bank activities, the basic economic norms of banking
activities" and "Code of rules on regulating the market of securities".