Thursday, November 29 2012 18:31
Areximbank-Gazprombank Group: Improvement of the situation in 2012 to raise money transfers by 15% in 2013
ArmInfo. With improvement of the situation in 2012, money transfers may grow by 15% in 2013 despite the suspension of "Migom" international money transfer system's activity in Armenia, Rouben Khachatryan, Deputy Director General of Areximbank-Gazprombank Group, told journalists.
He said that at present all the banks provide the services of international money transfers almost on equal terms. "The market is full of supply, while the demand is dropping. The winner is the one who offers the best service. For that purpose one should constantly enhance the efficiency of the work, expand partnership with various international payment systems and the spectrum of services. We are also on this path", he said.
The Russian Federation and the United States are still the leaders in terms of the quantity and amount of transfers. Khachatryan connects the large inflow of transfers from Kazakhstan and the UAE to Armenia with the considerable temporary outflow of Armenian population to Kazakhstan and the UAE for construction activities, as well as with conclusion of trade agreements between Armenia and the specified countries by both individuals and legal entities.
"As regards the general trends in the transfer market, I think the reduction in transfers from Ukraine and the USA is due to the current economic instability in these countries", he said.
According to the forecasts of the Central Bank of Armenia, the net inflow of non-commercial transfers of individuals will be up 10-12% in 2012 against the earlier supposed 9-12%. In 2013 the growth rates of the net inflow will drop by 9-11%, as the economic growth of Russia is expected to decline.
To note, over 14 international payment and settlement systems have the right to carry out their activities in Armenia, among them MoneyGram, UNIstream, Anelik, Bystraya Pochta, Contact, Blizko.