YEREVAN, May 14. / ARKA /. Ashot Osipyan, the chairman of the Union of Banks of Armenia, said today the majority of Armenian citizens are financially illiterate and that is why a competent analysis, good work of the media help banks to work with their customers.

Osipyan was speaking to reporters after awarding some Armenian media outlets diplomas for their active coverage of developments in financial and banking sectors.

Osipyan said part of the Armenian media is oriented for the general public and part for institutional users. He said this in view the level of covering should be different. In one case journalists should have a professional training and in the other case they should have a basic financial knowledge to be able to explain to the public what is going on in Armenia and how these changes may affect the ordinary citizens’ life,

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