A LEBANON BANK IS GOING TO FUNCTION IN ARMENIA

PanARMENIAN.Net - 31.10.2000, MEDIAMAX, YEREVAN. Lebanon banks are interested in Armenian market, and one of biggest Lebanon banks will appeal to the Central Bank of Armenia in the nearest future for a permission to work in the country, said Director of the Central Bank of Lebanon Riad Salamekh at the meeting with Armenian Prime Minister Andranik Margarian, as was reported to Mediamax in the press service of the government of Armenia.

Margarian said that drawing Lebanese capital to the economy of Armenia could greatly promote its development. Riad Salamekh noted that in case of active cooperation in financial sphere Lebanon may serve as "gates" for Armenia to the Near East and Armenia may become a "link" between the CIS states and Lebanon.

President of Armenia Robert Kocharian, who met today with Riad Salamekh, said that Armenian-Lebanese cooperation in banking sphere, which started a few years ago, has already shifted to more practical field. President Kocharian also said that Armenia has all the necessary potential to become a bank center in the region. -0-