  Sergey Grigoryan envies versatility of Armenia’s banking systemJuly 20, 2011 - 16:58 AMT PanARMENIAN.Net - Armenian banking system successfully managed to adapt to international standards, according to Sergey Grigoryan, Deputy Director of Association of Russian Banks analytical department. “Based on its regulation, Armenian banking system is closer to Western standards than Russian one,” Grigoryan told July 20 Yerevan-Moscow TV bridge on Capital Outflow; Post-Soviet Space. In this respect, Grigoryan noted that adapted International Financial Reporting Standards (IFRS) are already applied in Armenia, whereas Russia plans to implement them only in 2015. “This is one of visual examples of how a smaller country may easier adapt to new conditions,” said the specialist. Touching upon Armenian-Russian cooperation in the banking sphere, Representative of Association of Russian Banks underscored that presently assets of Russian banks in the Armenia’s banking system total $94 mln.   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 |  Latest news Ucom’s fixed network launches in Nor Hachn  City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices.Armenia parliament to consider draft proposal on impeachment June 17 The Armenian Parliament will hold an extraordinary session on June 17 to consider a draft proposal on the resignation of the government.Armenia to send Deputy Foreign Minister to Berlin’s Ukraine Recovery Conference Georgia will attend the forum at the level of Prime Minister, Foreign Minister, while Azerbaijan will send their Foreign Minister.About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. |
