Pan-Armenian bank may start operation next year

14.12.2009 16:13
Pan-Armenian bank may start operation next year

YEREVAN, December 14, /ARKA/. Armenian prime minister Tigran Sarkisian said Saturday he hopes the Pan-Armenian Bank Would start operating next year.

Speaking to journalists he said the government has hired two international organizations, one of which was tasked to develop its business plan and the other to choose an executive director. He said both organizations are to report to the government this month on what they have done.

The decision on the establishment of Pan-Armenian Bank was approved by the government in 2008.

The Pan Armenian Bank is a public-private partnership of the government of Armenia and prominent Armenian businessmen (largely from Diaspora) with a $100 million authorised capital (20% are to come from the government) aiming to make the worldwide Armenian community stronger and more competitive. -0-

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