Central bank of Armenia to approve long-term strategy for financial education of population; board member says

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10.10.2013 16:30

YEREVAN, October 10. / ARKA /. The Central Bank of Armenia will soon approve a long-term strategy designed to raise the level of financial literacy of the population and submit it the government's consideration, Armenak Darbinyan, a Central Bank of Armenia Board member, said during a conference that discussed the results of an EBRD training program.

"Raising the level of financial literacy of the population has two major objectives - protecting the interests of citizens and increasing the level of their involvement in the financial sector," he said.
According to Darbinyan, improving citizens' financial literacy is an essential component of the Armenian financial market.

"One of the major challenges currently facing the financial market of Armenia is to ensure its diversification, because about 90 % is held by banks. The remaining components – insurance companies, securities market and credit institutions need to expand and develop,” he said.

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EBRD implemented financial literacy to remittance recipients programme in Armenia

10.10.2013 13:41

The European Bank for Reconstruction and Development (EBRD) has launched a new initiative – Financial Literacy to Remittance Recipients programme in Armenia

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Inecobank signs $10 million loan agreement with OEEB to finance Armenia’s SME

08.10.2013 19:08

Armenian Inecobank said today it has signed a five-year $10 million loan agreement with the Austrian Bank of Development (OeEB) for financing small and medium enterprises in Armenia

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Central Bank of Armenia launches my financial month program

30.09.2013 16:19

The Central Bank of Armenia has launched today a campaign, called “My financial month,” designed specially to help citizens raise their awareness of how to manage their personal finances

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Over half of citizens of 15 countries willing to start saving at early age: HSBC report

28.09.2013 12:20

HSBC’s report found 53% of retirees say that ‘Start saving at an early age’ is the best financial advice they have ever received, ARKA reports referring to the results of The Future of Retirement study

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Central Bank’s decision to raise by 0.5 percentage points key refinancing rate will not prompt rise in lending interest rates: Experts say

16.08.2013 17:12

Chairman of the Armenian Association of Employers downplayed today concerns that the Central Bank’s decision to raise by 50 basis points its key refinancing rate to 8.5% will prompt a rise in lending interest rates

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IFC to provide FINCA with $4 million loan to finance micro, small and medium enterprises

18.07.2013 18:28

IFC, a member of the World Bank Group, said it will provide armenian FINCA UCO CJSC with a loan of $4 million in local currency, to help it finance micro, small and medium enterprises (MSMEs) so they can expand, create jobs, and reduce poverty

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HSBC Bank Armenia rewards best five trade finance companies

10.07.2013 15:49

Today HSBC Bank Armenia awarded its best trade finance customers of 2012. The five selected companies demonstrated success, achieved tangible results and expanded internationally by making use of HSBC geographic footprint covering more than 80 countries in 5 continents and the bank’s r innovative, forward looking trade finance solutions

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Armenian average monthly salary in financial sector upped by 22.2% to AMD 377,4000 in April

01.07.2013 16:07

The average nominal monthly salary in Armenia in the highest-paid segment –financial and insurance – rose by 22.2% to 377, 420 drams in April from a year earlier, according to the National Statistical Service of Armenia

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New customers deposit US $1.5 million into Armenian banks as EBRD provides financial education

19.06.2013 15:06

More than 5,722 customers have opened a bank account in one of the five Armenian banks participating in the financial training programme launched in the country by the European Bank for Reconstruction and Development (EBRD) in December 2012

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