AMOUNT OF TRANSFERS TO NATURAL PERSONS IN ARMENIA THROUGH BANKS EXCEEDS 11.7FOLD AMOUNT OF TRANSFERS ABROAD IN THIRD QUARTER OF 2007
Noyan Tapan
Nov 13, 2007
YEREVAN, NOVEMBER 13, NOYAN TAPAN. Natural persons may make transfers
without opening a bank account through Armenian commercial banks or
the CBA-licensed organizations carrying out money transfers. With
the aim of carrying out such transfers quickly, Armenian commercial
banks have joined 18 international systems (Western Union, Money Gram,
Anelik, Unistream, Contact and others).
According to the press service of the Central Bank of Armenia (CBA),
the total amount of transfers to Armenia through banks – participants
of these systems made 118 bln 406 mln drams (their number made
436,027) in the third quarter of 2007, which exceeded 11.7fold the
amount of transfers from Armenia to foreign countries. As a result,
the net inflow of money through commercial banks made 108 bln 285
mln drans. The amount of transfers to Armenia grew 1.3fold (by 28
bln 460 mln drams) as compared with the second quarter of 2007. The
average amount of one transfer to Armenia through these systems made
272 thousand drams, increasing by 39 thousand drams (about 120 USD)
as compared with the second quarter of this year.
In the third quarter of 2007, organizations engaged in money transfers
made payments of 1 bln 455 mln drams to their customers in Armenia
and made transfers of 58 mln drams to foreign countries. In the
period under review, the average amount of a payment to customers
(in transfers to Armenia through payment and settlement organizations)
made 194 thousand drams.
Payments to natural persons (in transfers through the Swift system)
grew by 5 bln drams to about 54 bln drams. The average amount of a
payment increased by 50 thousand drams and made 2.13 mln drams. At the
same time, natural persons’ transfers to foreign countries through
the Swift system grew by 12.5 bln drams and made 82.5 bln drams. As
a result, the net outflow of 27 bln drams was registered in natural
persons’ transfers through the Swift system.
On the whole, the amount of money transfers to natural persons through
commercial banks and organizations engaged in money transfers grew
by 24% as compared with the second quarter of 2007 and made 175 bln
drams, while the amount of transfers to foreign countries grew by 17%
and made 93 bln drams.