The national currency rate correction bears no serious inflation risks. Neither it threatens to the financial stability, Armenak Darbinyan, a member of the Armenian Central Bank Council, said in a statement, Tuesday. He explained the national currency rate correction with external factors such as slackening of the economic growth and devaluation of the national currencies of the partner-states as well as commodity market trends in a range of countries.
The average growth of the USD exchange rate in Armenia from 419.5 to 435 AMD/1USD over the past weekend is most likely of adjusting nature. Independent market analysts have expressed such an opinion on the condition of anonymity.
Armenian banks have an opportunity to expand their customer base in the regions overwhelmingly due to potential customers in peasant farms, say the results of a public opinion poll conducted by the Economic Development and Research Center (EDRC) at the request of the USAID as part of The Finance for Economic Development (FED) project. Micro, small and medium enterprises (MSME) and peasant farms throughout Armenia were polled.
Ameria Management Advisory has successfully completed its annual program to develop the internal control and internal audit capacities of Kyrgyzstan's public administration system.
ACBA-CREDIT AGRICOLE BANK and VTB Bank (Armenia), which are in the lead in the number of ATMs, have signed a cooperation agreement. Due to the agreement, from now on the MasterCard and Visa cardholders of the specified banks will be able to withdraw cash from the partner bank's ATMs whereas the commission fee of the issuing bank will be charged.
An education center for children has been opened in Gavar thanks to cooperation of ACBA-Credit Agricole Bank, World Vision Armenia and Hayastan All Armenian Fund. ACBA-Credit Agricole Bank told ArmInfo World Vision Armenia managed to open the center due to the plastic card "VISA Barerar" (VISA Charitable) that was issued as part of a three-year joint project of ACBA-Credit Agricole Bank and Hayastan All Armenian Fund with a budget of 41 million drams.
The first mobile bank in Armenia - mConverse - officially launched its services on November 18, Raffi Kassarjian, Head of Strategy and Business Development, Member of the Management Board at Converse Bank, said at a press conference on Wednesday. mConverse is an absolutely unprecedented offer for the Armenian market of e-commerce.
Parliament of Armenia passed amendments to the Law 'On national minimum wage' in first reading at the extraordinary meeting on 19 November. The amendments look to raise the minimum wage in Armenia by 5,000 drams starting 1 July 2015.
Armenian Parliament amended the scandalous Law on Turnover Tax in the second and final reading at an extraordinary meeting on 19 November, Vakhtang Mirumyan, Deputy Finance Minister, said no proposals were received by the second reading. He recalled that starting 1 October 2014, the turnover tax for economic entities engaged in the field of trade will be reduced from 3.5% to 1%. A status of the family business will be introduced. The Law sparked a wave of discontent of SME representatives who are not ready to hire accountants to submit the necessary documents to the tax agencies. In this light, the Government suggested postponing the deadline for submission of the documents till 1 Feb 2015.
Ameriabank was awarded Commerzbank STP Award 2013 for excellence in processing international transactions based on 2013 results.
The winner of Converse Bank's contest will be awarded with a Samsung Galaxy S5. The press service of the Bank has told ArmInfo that the contesters will need to give a correct answer to the question on digital technologies on the Facebook page of Converse Bank.
Ardshininvestbank has been renamed back to Ardshinbank. The press service of the Central Bank of Armenia reports that the CB approved the renaming on Thursday.
Areximbank-Gazprombank Group has taken part in the benevolent campaign to support the residents of the borderline villages in Tavush marz, Armenia. The campaign is organized jointly with the editorial staff of Armenia Turisticheskaya (Tourist Armenia) magazine, the press service of the Bank has told ArmInfo.
The Central Bank of Armenia is attentively watching the situation on the currency market and will interfere in case of sharp fluctuations, Chairman of the Central Bank of Armenia Artur Javadyan said in the Armenian Parliament on Tuesday.
The Visa cardholders of VTB Bank (Armenia) can make three free transfers from any Visa card of VTB Bank (Armenia) to a Visa card of other local or foreign bank via 150 ATMs of the Bank before 28 February 2015.
The servers of Armenia's Central Bank are strongly protected from hacker attacks, the CB said on Tuesday in response to media reports that some of its servers were hacked.