YEREVAN, August 29. / ARKA /. Top managers of Armenian banks and Armenia-based international financial organizations met yesterday to discuss a wide range of issues and problems, which are important in terms of further development of the country’s financial and banking sector.

According to a reliable source, the meeting held at the office of the Union of Banks of Armenia, brought together heads of Yerevan offices of World Bank, International Monetary Fund, European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).

According to the source, the participants looked into a string of controversial bills circulating in parliament and also discussed some issues related to the activities of the Service for Compulsory Enforcement of Judicial Acts, Financial Arbitration of the Central Bank and the judicial system.

A special focus was placed on issues impeding the development of Armenia's banking system, and on how to best protect the rights of creditors and borrowers.

The participants were said to have proposed possible solutions to all these issues and agreed on further cooperation to address new challenges. -0