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Union of Banks of Armenia hosts discussions on development problems of Armenia's financial and banking sector

  • by Emmanuil Mkrtchyan

  • Friday, August 29, 17:32

 On August 28, the Union of Banks of Armenia (UBA) hosted a meeting of the heads of Armenian banks and Armenian Offices of international organizations, namely, World Bank, International Monetary Fund, European Bank for Reconstruction and Development and International Finance Corporation.   

ArmInfo has been told by reliable sources that yesterday, Aug 28, the meeting at the UBA office covered the issues and problems of much importance to the further development of the financial and banking sector of the country. In particular, the participants thoroughly analyzed the problematic draft laws recently put in circulation at the National Assembly of Armenia on the initiative of some lawmakers. The discussions also covered issues related to the activities of the Judicial Acts Compulsory Enforcement Service, the UBA Financial Arbitrage and the judiciary system in general.      

The heads of the banks and international organizations also touched on the problematic issues hindering the development of the Armenian banking system and stressed the need to launch balanced protection of the rights of creditors and borrowers. The participants pointed out the possible solutions to all the specified problems and agreed to continue the cooperation aimed at resolving the arising problems and resisting the new challenges. 

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