YEREVAN, November 27. /ARKA/. The Central Bank of Armenia invites companies with a rich experience and knowledge in payment and settlement area for launching a single money transfer system ARUS, the regulator’s press office reported on Monday.

To strengthen stability of Armenia’s financial sector and taking into account the important role of remittances in it and some problems identified in dealing with international money transfer systems, the central bank embarked in July 2016 on creation of a single money transfer system ARUS.

ARUs system is a joint idea of the country’s regulator and commercial banks.

A cooperating company should meet some requirements. In particular, it should have at least ten years of experience in working at international money transfer market as well as experience of cooperation with participants of this market and a license in the OECD member countries.

The company should have a platform of the used information, which is based on advanced technologies.

If companies are foreign, they should be ready to register a subsidiary in Armenia’s territory.

Applications can be sent to [email protected] and [email protected]. Cooperation details are here as well. The deadline for submitting applications is December 4, 2017. --0---