Armenia’s Central bank to help consumers develop financial competence
YEREVAN, May 6. /ARKA/. The Central Bank of Armenia (CBA) will focus on
consumers’ financial competence. For this purpose, CBA plans to
organize training programs, CBA Vice-Chairman Arthur Javadyan said at
the exhibition Finance, Credit, Insurance and Audit EXPO 2008.
The bank plans to provide consumers with financial handbooks to inform
them of their rights and duties. Games will be organized for young
people and special workbooks will be published for professors soon.
Besides, consumers will have an opportunity to watch special
educational programs on TV.
Javadyan believes joint efforts will contribute to the effective
development of the country’s financial system. According to him, CBA
aims to protect consumers’ rights and guarantee transparent financial
services. With this end in view, the bank reviewed last year its policy
of monitoring financial institutions (banks in, insurance companies and
securities market participants). The new ideology clearly
differentiates between market management and financial monitoring
functions.’0–