YEREVAN, October 26. / ARKA /. Garegin Tosunyan, the chairman of the Association of Russian Banks, praised today the Central Bank of Armenia for ‘making a huge leap forward in the development of the banking system,’ as he spoke at an international conference in Yerevan on remittances across the former Soviet Union, their prospects, new trends and technologies.
“I wish to commend the Central Bank of Armenia for the contributions it made to the development of the banking system over the past two decades. On many occasions I was very pleased to hear the leadership of the Central Bank of the Russian Federation to cite the example of the Armenian Central Bank in the context of progressive development of the market, ” he said.
Tosunyan also praised the government in Yerevan for its contribution to development of the banking sector, advanced technology and electronic payments.
“The Armenian government is implementing a large reform to introduce the systems of electronic reporting, e-payments and so on”, he said, adding that the use of these tools helps reduce red tape and corruption.
The conference in Yerevan is organized by Unistream money transfer system with the support of the Central Bank of Armenia, the ARB and IAMTN (International Association of Remittances). The gathering has brought to Yerevan representatives of the central banks of different countries, international organizations, banking associations, payment systems, managers of banks in Russia, the CIS, Georgia, Baltic countries, as well as companies providing technology solutions for the banking business. The main objective of the conference is to discuss the prospects for further development of technology and the money transfer market. ($ 1 – 405.25 drams). -0-
