PRIVATE MONEY TRANSFERS TO ARMENIA $270MLN IN 1ST QUARTER 2007
Arka News Agency, Armenia
May 21 2007
YEREVAN, May 21. /ARKA/. In the 1st quarter of 2007, private money
transfers to Armenia totaled AMD 97.1bln or about $270mln.
The Central Bank of Armenia (CBA) reports that an 8.97% increase in
the volume of individual money transfers in AMD was recorded compared
to the 1st quarter of 2006, with a 26.72% increase recorded in money
transfers in terms of USD.
About 302,000 money transfer to Armenia were recorded in January-March
2007 – a 22.86% increase.
Express money transfer systems not requiring the opening of accounts
intensified their activities in Armenia. In the 1st quarter of 2006
these transfers accounted for 52.92% of individual money transfers
whereas it was 63.15% in the 1st quarter of 2007. As regards the
number of transfers, this index is 87.16% and 93.24% respectively.
According to the information of the Central Bank of Armenia, the
Unistream system is the leader, having both the largest number and
volume of transfers. In the 1st quarter of 2007, a total of 94,560
transfers to the amount of AMD 28.9bln or $80.3mln, which is much
more than the figures presented by other money transfer systems.
During the period under review, the number of money transfers effected
by Armenia’s citizens increased as well.
During the period under review, transfers through the banking
system amounted to AMD 66.1bln – a 1.51% decrease. At the same time,
in terms of USD the amount of money transfers increased by 23.57%
up to $183.86mln, with a 19.12% increase in the number of transfers
recorded (30,800). International systems of private money tr5ansfers
accounted for 12.16% of the total volume and 59.86% of the total
number of money transfers.
The CBA reports that by April 1, 2007, Armenia’s banks had been
participating in the following money transfer systems: SWIFT, Western
Union (15 banks), Money Gram (1banks) , Anelik (6 banks), Unistream
(3 banks), "Express Post (6 banks), Interexpress (2 banks), Contact
(3 banks), Lider (3 banks), Migom (6 banks), Privat Money Transfer,
STB Express, Faster, "Close", "Live Money". Also, the nonbank
organizations HayPost (ArmPost), Contact, Travelex, Stefi and "Depi
Tun" are participating in the money transfer systems.