Armenian minister uses electronic site to buy government bonds

16.06.2017 18:57
Armenian minister uses electronic site to buy government bonds

YEREVAN, June 16. /ARKA/. Armenian finance minister Vardan Aramyan was the first today to purchase government treasury bonds worth 50,000 drams (less than $ 100) in the presence of journalists by using the new online gp.minfin.am platform.

Speaking to journalists, the minister said it took the NASDAQ OMX stock exchange two months to develop and launch the electronic platform for the purchase of government bonds by individuals.
Aramyan said in order to buy government bonds one only needs to use his/her ID-card, and if they do not have one, they only need to visit one of the service points of the treasury borrower and get the appropriate code and use one’s email address.

After entering the ID or e-mail data, the system shows information on available bonds, maturities and interest rates.

The minister chose today long-term bonds with an interest rate of 12.5% spending 7-8% of his salary (50,000 drams), after which the system calculated his quarterly income on coupon payments. After choosing the bonds, one needs to enter his/her credit card details as with any electronic purchase, and complete the transaction.

"The system works quite simply. At any moment you can sell your bonds or buy new ones. The purchase amount does not matter, you can buy bonds for a thousand drams,’ the minister said adding that the risk is zero. ($ 1 - 481.77 drams). --0--


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