Armenia’s chance to become regional banking sector scant

Armenia’s chance to become regional banking sector scant

YEREVAN, April 18. /ARKA/. Armenia’s chances to become a world, or even
a regional, bank center, are scanty, said Armen Darbinyan, Rector of
the Russian-Armenian (Slavonic) University.

`To have a banking sector we need two things having nothing to do with
finance: at least a bilingual or, better, a trilingual country, as well
as infrastructures,’ Darbinyan stated at the conference `Global
financial and economic crisis: genesis and prospects’ held at the RAU.

According to him, any talks about a regional banking sector are out of
the question without languages and infrastructure.

Earlier RA Prime Minister Tigran Sargsyan promulgated six comparative
advantages of Armenia allowing it to transform into a financial center.
Among them are operations, deposit services involving bonds and other
securities issued by the countries of the region, formation of
investment funds and asset management, Islamic financial services,
active financial reforms inside Armenia, as well as financial services
inside the Armenian world. P.T. `0–