Armenian financial market has potential for development, according to Karen Tamazyan, head of the financial market development and currency management department at the RA Ministry of Finance.

“The market will be more developed in 3-5 years thanks to creation of new financial and investment instruments,” Tamazyan told reporters on August 27. “If the Armenian parliament approves the bill on pension reform, new investments funds will be established.”

He also noted that with introduction of compulsory financial defined contributions, financial market actors will get interested in new development trends.