ArmInfo.

ArmInfo. Visit of the Argentine delegation headed by the President of the National Bank of Argentina (NBA) Carlos Melconian to Armenia will contribute to strengthening of mutually beneficial relations between the two states, Chairman of the Central Bank of Armenia Artur Javadyan said at the meeting with the President of NBA expressing hope that the visit of the NBA's President will lead to launch of efficient cooperation.

ArmInfo. Loan portfolio quality in Armenia's banking system keeps deteriorating, as NPLs accounted for 13.6% of total already in April 2016 versus 8.5% a year ago (7.5% in Q1 2014). In absolute terms, the NPL growth rates increased from 38% to 63% (versus 29% year on year growth in Q1 2014) to 316bln drams. 

ArmInfo.

ArmInfo. On 21 May President of Artsakh Bako Sahakyan received Chairman of the Armenian Central Bank Arthur Javadyan.

ArmInfo. Central Bank of Armenia (CBA) has upgraded is economic growth forecast for 2016 from 2.2% to 3.2%. In 2017, the regulator forecasts a 3.5%-4.5% economic growth for Armenia, Arthur Javadyan, CBA Chairman, said in the parliament Thursday presenting the monetary policy for 2016.   

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ArmInfo. High expectations for the world economy growth rates and geopolitical situation in the region create more and more challenges for the country's financial system, Chairman of the Central Bank of Armenia (CBA) Arthur Javadyan expressed this opinion in the parliament today, answering to the MPs questions about the level of stability of the country's financial system.

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ArmInfo. Armenia has become the first country to sign a Memorandum of Understanding with the European Bank for Reconstruction and Development (EBRD) to become eligible for lending to local small and medium-sized enterprises (SMEs) in local currency, to the EBRD told ArmInfo.

ArmInfo. From now on, a MTPL insurance event below 50,000 AMD can be settled upon mutual consent of drivers without calling an insurance officer. Arthur Javadyan, the head of the Armenian Central Bank, made such a suggestion at the Government on February 18.  He said drivers can just inform their insurers of the road accident, sign a joint manifesto and enclose photos of the accident to it and send it to the insurance company.

ArmInfo. On January 21 Ameriabank signed two largest in the region deals with the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC), which is a member of WB. The Chairman of the Board of Directors at Ameriabank Andrew Mkrtchyan and Nick Tesseyman, EBRD Managing Director, Financial Institutions signed the first deal. The second deal with IFC was signed by Andrew Mkrtchyan and Jan van Bilsen, IFC Regional Manager for the South Cacuasus. 

ArmInfo.  Macroeconomic and financial stability predetermined economic growth in the mid-term. As a result it became possible to prevent further decline of purchasing power because of already small profits, Armenia's chief banker Arthur Javadyan told at the New Year reception in the Central Bank of Armenia on December 25. 

ArmInfo. After merger of banks, the call liabilities of the merged bank will be valid within 1 year, while time deposits will remain valid under contract terms, Deputy Chairman of Armenia's Central Bank Nerses Yeritsyan said when presenting the draft amendments to the Law "On Guarantee of Remuneration of Bank Deposits of Physical Entities". On December 21, the Armenian Parliament amended that law in the first reading. 

ArmInfo. After merger of banks, call liabilities of merged bank will be valid within 1 year, while time deposits will remain valid under contract terms, Deputy Chairman of Armenia's Central bank Nerses Yeritsyan announced at December 18 at the Armenian Parliament, when presenting the draft amendments ato the law "On Guarantee of Remuneration of Bank Deposits of Physical Entities".

ArmInfo.  From the end of 2016 Central Bank of Armenia will start building up its own gold reserve, CBA Chairman Arthur Javadyan told at the National Assembly on November 16. According to him, CBA will create gold reserve jointly with the Swiss Company Technosert.  As Javadyan noted, the company has already completed the project work on the construction of the precious metals refinery.

ArmInfo. On November 11, the National Assembly of Armenia introduced amendments in the Law "On Central Bank" in the second and final reading, as well as in a number of related laws, including the ones "On banks and banking", "On credit companies", "On insurance and insurance activities," "On securities market" and "On investment funds."

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ArmInfo. The Chairman of Central Bank of Armenia needs second vice for improving the efficiency of assessments. CBA Chairman Arthur Javadyan made such an initiative in the Parliament on November 10, while presenting amendments to the Law on Central Bank and in a number of relevant laws. According to him, the president will appoint the Vice-Chairman, the Board of Central Bank, consisting of eight members, five of whom are independent, will vest the authorities to the Vice-Chairmen and the Chairman of CBA.

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