Regnum, Russia
Feb 27 2009
Armenia: All-Armenian Bank to be set up
The international commercial All-Armenian Bank will start operating in
2009. It will specialise in financing of projects of the Armenian
Diaspora. The bank’s charter capital will reach US$ 100mn (EUR
74.52mn), and US$ 65.5mn of them will be granted by the government of
Armenia. The institution will be a public limited company, and the
Central Bank will be one of its shareholders. The board of
All-Armenian Bank will consist of 11 people: the prime-minister of
Armenia, minister of finance, economy, president of the Central Bank
and other representatives of business circles and banks. The
competitiveness council of the government of Armenia will control the
bank’s activity.
From: Emil Lazarian | Ararat NewsPress
