Mediamax News Agency, Armenia
June 25 2007
PM believes that Armenia may become the regional financial center
Yerevan, June 26 /Mediamax/. Armenian Prime Minister Serzh Sarkisian
stated that the banking system of the country quickly integrates
itself into the international banking community.
Mediamax reports that, speaking on June 25 during the annual meeting
of the Union of Banks of Armenia (UBA), the Prime Minister stated
that `at present, the banking system of Armenia is stable; the
confidence for it grows day by day’. According to the Head of the
government, the implementation of systems of corporate management,
establishment of infrastructures, which increase the reliability of
the banking system, assist the given process.
At the same time, according to the Prime Minister, there are a number
of problems, which need soon solution. In particular, the ratio of
credits in the structure of GDP does not exceed 10%. `We should do
everything for the credit means to become available for each
businessman, and for each citizen be able to equip their habitation
conditions with modern amenities at the expense of mortgage’, Serzh
Sarkisian stated.
The Prime Minister noted that the 5-year Action Program of the
Armenian government includes issues of developing the banking system.
The government, together with the Central Bank and the UBA, intends
to elaborate and realize the corresponding programs and establish
auspicious conditions for solving the given tasks.
Firstly, Armenia should become the regional financial center, for
which there are all the necessary objective prerequisites. A bright
evidence of which is, according to the Prime Minister, the active
interest, which is demonstrated by the international financial
community to the banking system of Armenia.
Secondly, the government set the task of equal development of the
regions of Armenia. In this connection, Serzh Sarkisian proposed to
turn one of the towns of Armenia, for instance – Dilijan, to the
financial center of the country.
Thirdly, the banking system should be the driving force of the real
sector of economy, which provides for the implementation of new
technologies and services.
Fourthly, the system of management in the banking sphere should be an
example for the enterprises of the real sector as to the standards of
corporative management, effective organization of business-processes,
the financial management and etc.
Fifthly, the banks, being public institutions, should bear the social
responsibility, taking active participation in social programs.
From: Emil Lazarian | Ararat NewsPress
