New executive director appointed at Artsakhbank

YEREVAN, June 13. /ARKA/. On Monday, Artak Balayan was appointed as Artsakhbank executive director and board chairman.

According to the bank’s press office, earlier, on May 17, Arden Selefian was elected as chairman of the bank’s council.

Arden Selefian was born on Septmber 25, 1951 in Istanbul. He graduated from the Faculty of Business and Economics of the University of Lausanne (Switzerland). Chief adviser at Franck Muller Group (Switzerland) – from 2000 till now, and a member of the Artsakhbank board – from 2002 till now.

Artak Balayan was born on June 30, 1976 in Stepanakert, Artsakh. Graduated from Artsakh State University’s finance and lending department in 1998. He started building his career in 1998 at Artsakhbank, where held different positions, including administrative posts.

From 2007 to 2015 Balayan was the chief of Nagorno-Karabakh Republic’s tax agency, after which worked as adviser and chief of the economic division of the Nagorno-Karabakh president’s administration. –0—-

spot_img

POPULAR

Armenia’s gross reserves rose to $5.5 billion in February, providing 4.1 months of import coverage – WB

Gross reserves in Armenia increased, reaching $5.5 billion at the end of February, equivalent to 4.1 months of import coverage, according to the World Bank's "Armenia Monthly Economic Update – March 2026."

AI will be integrated into virtually all capital market processes in Armenia – expert

In Armenia, AI will be integrated into virtually all processes in one way or another, and where to begin depends on the specific objectives and current priorities of financial institutions, according to Arman Aleksanyan, co-founder and CEO of Eleveight AI.

Food and non-alcoholic beverages accounted for approximately 59% of Armenia’s inflation in February – WB

n February, inflation in Armenia rose to 4.3% (y/y) from 3.8% (y/y) in January. According to the World Bank's "Armenia Monthly Economic Update – March 2026," food and non-alcoholic beverages continued to be the largest contributors, increasing in price by 6.5% and contributing approximately 59% to overall inflation.

Armenian capital market needs not only technology, but also a mature regulatory and infrastructural environment – ​​NABIX founder

The digital infrastructure of the Armenian capital market has made significant progress in recent years, but the market still lacks a more robust regulatory and technological framework for the full development of new financial instruments.

Armbanks Weekly Digest: Key Events in Armenian Financial Market (March 9–14) 

The past week in the Armenian financial market was marked by discussions of capital market development prospects at a specialized international conference, regulatory initiatives from the Central Bank, and changes to the insurance system.

LATEST NEWS

spot_imgspot_imgspot_img