YEREVAN, February 21, /ARKA/. In an interview with Kapital daily, Ararat Ghukasian, the chairman of the Union of Armenian Banks, disagreed with international lending organizations’ opinion that toughening risk management is a major problem of the country’s banking sector.
He said today Armenian banks are capable of managing interest, operational and market risks. Moreover, the banks continue to invest in the improvement of the current system, he said.
‘Regarding securities market risks let us first of all develop it and introduce concurrently risk management instruments,’ he was quoted as saying.
He said the securities market in Armenia makes no progress because the overwhelming portion of local economic entities are closed joint stock companies which prefer to solve their financial problems by means of attracting bank loans. -0-
