CBA CANCELS INSURANCE BROKERAGE LICENCES OF TWO COMPANIES

Noyan Tapan
April 9, 2008

YEREVAN, APRIL 9, NOYAN TAPAN. At the April 8 sitting, the Central
Bank of Armenia (CBA) Board approved the following documents: the
regulation on the requirements for activities of persons providing
investment services, the accounting plan of investment companies,
the directives on the use of accounting plan of investment companies,
the accounting order of future agreements signed in international
market by the CBA, and the report on execution of the 2007, 4th
quarterly program and the 2007 annual program of the CBA’s estimate
of expenditures and capital investments.

According to the CBA press service, the Board decided to make
changes in the CBA’s 2008 annual program of estimate of expeditures
and capital investments, as well as to make amendments in the guide
"The Accounting Rules of the CBA". An addition was made to the program
on issue of commemorative coins in the RA in 2008-2008.

By the Board’s decision, amendments and additions were made to
the accounting plan of banks operating in the territory of the RA,
the directives on the use of accounting plan of banks operating in
the territory of the RA, the accounting plan of credit institutions
operating in the territory of the RA, and the directives on the use of
the accounting plan of credit institutions operating in the territory
of the RA.

The CBA Board decided to cancel the insurance brokerage licences of
Mitra LLC and Avangard Insurance Brokers LLC.

Besides, the CBA Board approved the designs of the commemorative
coins "Bezoar Goat" and "Caucasian Owl" of the Caucasian Animal
World international program, the designs and technical standards
of gold commemorative coins to be issued under the Zodiacal Signs
international program in 2008-2009, as well the terms of putting
these commemorative coins in circulation and their description.