ArmRadio
2007-02-23 14:05:00
First specialized Western Union branch in South Caucasian region
opened in center of Yerevan
The first specialized branch of the Western Union international money
transfer system has been opened in the center of Yerevan in
collaboration with the Araratbank.
Ashot Osipyan, the executive director of the Araratbank, noted that
the specialized branch will carry out both Westerm Union
money-transfers and other banking services, particularly, community
charges, microcredits, etc. According to A.Osipyan, the branch has
been operating for 10 days, and about 20 transfers a day are made
under the Western Union. The bank is planning to raise this indicator
to 50, and to render round-the-clock services.
According to Mikhail Babirenko, the Western Union business manager for
Armenia, Georgia and Ukraine, the key task of the Western Union is to
render efficient and safe services all over the world. There are
Western Union specialized branches in Germany, France, Great Britain,
Ukraine, Kazakhstan, Uzbekistan.
Chairman of the Central Bank of Armenia Tigran Sargsyan, who was
invited to the presentation, noted that Armenia’s financial sphere is
diversifying services, leading to a high competition. In his opinion,
the Araratbank has chosen a right strategy, as today clients are not
surprised at new branches. But to open a branch specializing in money
transfers is an advantageous and positive step.
To note, the Western Union company is the leader in the world market
of money transfers. The company has representative offices in over 200
countries and about 30 thsd branches all over the world. The company
has been operating for over 10 years and has over 200 points of
service in Armenia. According to the CBA’s data, the total volume of
transfers under the Western Union in 2006 totalled 45.2 bln AMD, 41.2
bln of them were transferred to Armenia.