Thursday, March 11 2010 10:12

Association of Credit Companies of Armenia suggests creating equal conditions on the country's credit market


ArmInfo. The Association of Credit Companies of Armenia, chaired by CEO of Aregak Universal Credit Company Maryam Yesayan, suggests reforming the legislation on credit organizations, particularly, creating equal conditions for credit companies and commercial banks in paying VAT and fees for opening branches.

Unlike credit companies, commercial banks in Armenia are exempt from paying fees for their branches and VAT for their services.

The Association also suggests changes to the law on financial ombudsman, paricularly, allowing it to have its member in the Council of Financial Ombudsman and reconsidering the amount of annual payments to the Office of Financial Ombudsman. "The agreement of the Central Bank to consider our problems inspire certain optimism," says Yesayan.

During a meeting today the Association elected new chairman, CEO of Nor Horizon Universal Credit Company Khoren Kerobyan.
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