YEREVAN, December 5. / ARKA /. Armenian Araratbank has announced today the launch of black and red Diners Club International payment cards.

Speaking at the presentation, Ashot Osipyan, the bank’s board chairman said the cards are designed for frequent travelers. Black (premium) cards may be used to pay restaurant, hotel and airport bills, to reserve tickets and settle insurance-related issues. The cards can be used also to pay for purchases in more than 180 countries worldwide. The red card is intended for young people, preferring more economical types of travel.

Osipyan also said that the first cards were issued together with Austrian Airlines. This will allow their Armenian cardholders to use them at the Vienna airport.

Diners Club International Ltd president Eduardo Tobon, who also was present at the ceremony, said the launch of Diners Club International cards in Armenia is a good opportunity to open the country to the world and attract more tourists.

"This is my first visit to Armenia and I must say that Armenia is a hidden jewel that must be opened to more and more people,” said Tobon .

He said Diners Club International has gained a strong partner in Armenia to implement major projects for Armenian clients. In an interview with ARKA he said Armenia is the first country in the region issuing Diners Club International cards.

Araratbank is planning to issue 5000 cards in the next 12 months. Diners Club International cards will be served in Armenia by the ATMs of Araratbank and more than 1,000 service points.

Diners Club International was founded in 1950. The company operates in more than 185 countries around the world via 675,000 ATMs and POS terminals.

Araratbank was established in 1991. Some 74.18 % of its shares are owned by Barsegh Beglaryan, the owner of Flash oil trader and 25% by the EBRD. Araratbank joined NASDAQ OMX Armenia in 2009. -0-