YEREVAN, December 19. /ARKA/. Antonio Fallico, president of Conoscere Eurasia Association and chairman of the board of Italy’s Banca Intesa, praised the banking legislation of Armenia.

"When I visited Armenia for the first time, I was greatly impressed by the legal framework it developed for Armenian banks, which in my opinion is the best in the region", - Fallico said to Novosti-Armenia news agency.

"I should say that it did not take us long to establish very good relationships with Armenian banks. I would say it occurred kind of instinctively, may be due to the history, traditions, for example, I can mention the Armenian community in Venice, - he said.

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Teresa Daban Sanchez, IMF Resident Representative to Armenia, commenting on probability of introduction foreign currency hedging, said the Central Bank of Armenia was working out legislative proposals on financial derivatives

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