YEREVAN, November 7. /ARKA/. The Central Bank of Armenia will soon unveil its revised strategy, with a special focus on managing environmental, social, and corporate responsibility, said Martin Galstyan, the head of the regulator.
“We will consistently follow this path,” he emphasized, speaking on Thursday at the forum “Regional Challenges and Opportunities within the Framework of Cooperation with European Banks.”
Another important focus, according to the head of the Central Bank, is enhancing corporate governance standards in commercial banks, which serves as a long-term guarantee of the stability and competitiveness of the banking system.
“The foundation of corporate governance lies in independent and professional boards, as well as internal control and balancing mechanisms, commercial banks are doing quite extensive work in this area,” he explained.
Overall, according to the Chairman of the Central Bank, the Armenian banking system has undergone significant transformation in recent years, particularly in the area of risk management. -0-
