Armenia to introduce a two-tier pension system in 2011November 10, 2009 - 17:21 AMT PanARMENIAN.Net - Armenia will introduce a two-tier pension system in 2011, the chairman of the Central Bank of Armenia Artur Javadyan said, addressing the "10th meeting of heads of government agencies regulating CIS countries' security markets" opened November 10 in Tsakhkadzor. The Central Bank of Armenia presides over the meeting this year. According to a press-release of the Central Bank, the activities of investment and pension funds will be regulated in frames of the laws "On Investment Funds" and "Funded Pensions", which are elaborated now. According to Artur Javadyan, after reforms the financial market of Armenia will become more attractive to new players. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |