RA PM RECEIVED DELEGATION HEADED BY CHAIRMAN OF BOARD OF DIRECTORS OF LEBANESE ‘CREDITBANK’

arminfo
2007-08-29 16:17:00

Today, RA Prime Minister Serzh Sargsyan received the delegation headed
by chairman of the Board of Directors of the Lebanese "CreditBank"
Tarek Khalifeh. As the governmental press-service told ArmInfo, the
Prime Minister welcomed the bank’s intention to develop an activity
in Armenia and said that it is fully concordant with RA government’s
policy, in particular, in the issue of the republic’s financial
market development. S. Sargsyan thinks that the experience of the
"CreditBank" may have a positive influence taking into account the
fact that Lebanon was always considered as an international financial
sector and had serious progresses in the financial sector development.

For his part, Tarek Khalifeh thanked Serzh Sargsyan for readiness
to cooperate. He added that meeting- discussions, held so far with
partners from RA Central Bank and a number of the Armenian commercial
banks, strengthened the intention of the "CreditBank" to launch the
works in Armenia. "Our observations show that serious prospects and
a favourable environment for development of the banking activities
exist in Armenia, and we shall be happy to have our contribution in
development of the republic’s economy ", T. Khalifeh emphasized. He
also said of the importance of cooperation with RA government in
implementation of certain investment programmes, including the
agricultural sector, development of infrastructures and the sphere
of industry.

Meanwhile, the interlocutors emphasized importance of the role of
the Armenian community of Lebanon in attraction of the Lebanese
capital to the Armenian market. S. Sargsyan wished successes o the
"CreditBank" on the way of implementation of the programmes in Armenia
and expressed confidence that the Armenian government will support
and promote fulfillment of perspective and profitable programmes for
Armenia’s bank and economy, within the frames of their authorities and
opportunities. To note, according to ArmInfo data, the "CreditBank"
is the second Lebanese banking group which shows a serious interest
to the financial market of Armenia. A memorandum on acquisition
of the bank’s shares has been recently signed between the Biblos
Lebanese banking group and shareholders of the Armenian ITB bank. It
is scheduled to complete the transaction by October, 2007.