YEREVAN, October 18, /ARKA/. Governor of Armenia’s Central Bank Arthur Javadian said today the appointment of head of the Pan-Armenian Bank was a matter of days. Speaking to journalists on the sidelines of the first Conference of Armenian Bankers and Financiers in Yerevan he said the greater part of work for establishment of the bank was done and soon it will have its head. He, however, declined to specify whether the selected applicant is from Armenia or a foreign country.
The chartered capital of the pan-Armenian Bank is 30 billion Drams (about $100 million). The government will have a 20 percent stake in it and the remaining shares will be divided among leading international financial organizations and private investors. On October 14 the government passed a decision on handing the building occupied by the Armenian Development Agency to the Pan-Armenian Bank. -0-
