YEREVAN, April 6. /ARKA/. Today financial market is not developed and consistent in Armenia, MP of opposition faction “Dashnaktsutyun” Artsvik Minasyan considers.
About 92% of financial assets is concentrated in the commercial banks which hinders the development of other sectors of financial market.
The problem exists not only in the financial market but in the system of state management. Monopolistic management of CB Armenia over the financial market does not allow other sectors, particularly capital market, voluntary insurance and investment sector to develop,.
He explained that these sectors should have opportunity to compete with the commercial banks and define such percent rates and business environment “which will allow the economy to work, breathe and produce”.–0–
