YEREVAN, October 23. /ARKA/. The research unit of the Central Bank of Armenia has been completely transferred to the Training and Research Center of the bank in Dilijan, head of the Central Bank Artur Javadyan told reporters Tuesday. This means, the center is now fully established, he added.

Tuesday Armenia’s president Serzh Sargsyan visited the Training and Research Center that started its operations in Dilijan in January 2013. The president looked at the infrastructures, the dwelling area for the staffs and their families.

The financial stability unit of the Central Bank will be partly transferred to the center as the main banks operate in the capital, Javadyan said.

A total of 78 employees work in the macrounit of the bank, of them 58 have already moved to Dilijan with their families, the head of the Central Bank said. He also said communications and servers will be completely transferred to Dilijan as from June next year.

“Now we have the best servers in the region; apart from this, commercial banks have the opportunity to back up their servers here, which is important in terms of financial stability”, Javadyan said.

Staff motivation is used to encourage employees to move to Dilijan for permanent residence. An apartment building is build with a total of 64 service apartments that can be purchased at a prime cost. There is a children’s recreation center in the building and a school built for the staff’s kids.

Building a financial center in Dilijan cost $80 million. The country’s leadership often says it intends to turn Armenia into a regional financial center, to use world experience and establish stable traditional on financial markets.

According to experts, it will take Armenia at least 2-3 years to implement the program. Making legislation changes is considered to be the first stage of the project. In this connection, a regional research and training center has been built to hold forums, seminars, training course for financial systems of Armenia and the region.–0—