ARMENIA’S PM WELCOMES INTENTION OF LEBANESE "CREDIT-BANK" TO OPERATE IN ARMENIA

ARKA News Agency, Armenia
Aug 29 2007

YEREVAN, August 29. /ARKA/. Armenia’s Prime Minister Serge Sargsyan
welcomes the intention of an authoritative Lebanese "Credit-bank"
to operate in Armenia, he said during his meeting with the Chairman
of the Board of Directors of the Bank Tarek Khalifa.

"The Prime Minister welcomed the intention of "Credit-bank" to
operate in Armenia and pointed out that this is in accord with the
Government’s policy on the development of the financial market,"
the Ra Government’s staff press service told ARKA on Wednesday.

According to Sargsyan the experience of the Lebanese bank may be
useful for Armenia taking into account the fact that Lebanon was
always considered a financial center and achieved serious progress
in the development of the financial market.

In his turn, Khalifa thanked Sargsyan for the readiness to cooperate
and pointed that the meetings with the colleagues from the Central
Bank of Armenia and other Armenian commercial banks strengthened the
intentions of the Lebanese side to operate in Armenia.

"According to our observations there is a great development perspective
and favorable environment in Armenia and the bank will contribute to
the development of the Armenian economy," said Khalifa.

Chairman of the Board of Directors of the Bank also pointed out the
possibility of cooperation with the RA Government in implementation of
a number of investment projects including the spheres of agriculture,
industry and development of infrastructures.

The sides pointed out the important role of Lebanon’s Armenian
community in attracting Lebanese capital to the Armenian market.

"The delegation headed by the Chairman of the Board of Directors
of the Bank included authoritative representatives of the Armenian
community of Lebanon, and their efforts directed to the development
of the Armenian-Lebanese cooperation testify to that," the press
service reported.

The Premier wished success to "Credit-bank" and pointed out that
Armenia’s Government within its authorities and possibilities will
contribute to implementation of all the perspective programs that
are profitable both for the bank and the Armenian economy.
From: Baghdasarian