Mediamax, Armenia
May 27 2008
Armenia Moving Toward Becoming Financial Powerhouse
The idea of turning Armenia into a financial and banking center
should be our guide for the nearest years, President Serzh Sarkisian
stated today.
Mediamax reports that Serzh Sarkisian said this during the first
financial-banking conference, organized by the Union of Banks of
Armenia (UBA), which took place in Dilijan today.
`From now on, we should not compare the development speeds of the
Armenian financial system to the indices of the countries of the
region, but should find out to what extend we approached the world
trends’, the President noted.
Serzh Sarkisian stressed the importance of OMX Group’s presence in the
republic, noting that this brand-named exchange operator will help the
formation of a competitive financial market in Armenia, meeting the
international standards.
According to the President, the banking system should become a
locomotive of Armenia’s economy.
Serzh Sarkisian highlighted the necessity to establish trust relations
in the financial sphere.
`Trust relations should be spread in all the spheres of business. Time
will come and the factor of trust will be stronger than the factor of
legal norms in the relations between sides’, the President stated.
He also stressed the importance of even territorial development in
Armenia, noting that the citizens of the country should feel economic
growth on themselves.
`We will take up all the necessary legislative and political measures
to reach the goals set’, Serzh Sarkisian stated, adding that the
authorities are ready to consider proposals from participants of the
financial market.