Armenian and Georgian central banks sign memorandum of cooperation

The central banks of Armenia and Georgia have signed a memorandum of understanding on cooperation in the financial sector.

According to an official statement from the Central Bank of Armenia, the document aims to strengthen the stability of the two countries’ financial systems, enhance transparency and resilience in the sector, and protect the legitimate interests of depositors and investors.

The memorandum sets out procedures for exchanging information related to financial sector regulation and supervision. Cooperation will cover the licensing and supervision of financial institutions, market conduct, consumer protection, competition, crisis management, payment systems, the securities market, crypto-asset services, financial technologies and monetary policy.

The document will provide a basis for the effective exchange of experience and information between the two central banks, as well as for the implementation of joint initiatives.