ASSOCIATION OF CREDIT COMPANIES OF ARMENIA SUGGESTS CREATING EQUAL CONDITIONS ON THE COUNTRY’S CREDIT MARKET
ArmInfo
11.03.2010
ArmInfo. The Association of Credit Companies of Armenia, chaired
by CEO of Aregak Universal Credit Company Maryam Yesayan, suggests
reforming the legislation on credit organizations, particularly,
creating equal conditions for credit companies and commercial banks
in paying VAT and fees for opening branches.
Unlike credit companies, commercial banks in Armenia are exempt from
paying fees for their branches and VAT for their services.
The Association also suggests changes to the law on financial
ombudsman, paricularly, allowing it to have its member in the Council
of Financial Ombudsman and reconsidering the amount of annual payments
to the Office of Financial Ombudsman. "The agreement of the Central
Bank to consider our problems inspire certain optimism," says Yesayan.
During a meeting today the Association elected new chairman, CEO of
Nor Horizon Universal Credit Company Khoren Kerobyan.