Time in Yerevan: 11:07:36,   20 October

Armenian cenbank chief re-elected as Chairman of Council at CIS Interstate Bank


YEREVAN, SEPTEMBER 18, ARMENPRESS. The 57th session of the CIS Interstate Bank’s Council was convened September 17th in the Central Bank HQ in Yerevan, Armenia, chaired by Chairman of the Council Arthur Javadyan.

Arthur Javadyan is also the incumbent president of the Armenian central bank.

The session discussed the financial report of the bank, the 2019-2020 strategy and other issues.

During the sitting Javadyan was re-elected as Chairman of the Council of the CIS Interstate Bank for a 1-year term.

The Interstate Bank is an international banking settlement and credit institution with 100% participation of state capitals of member countries of the Commonwealth of Independent States.

The Interstate Bank was founded in 1993 by ten CIS countries. The Interstate Bank has its representative offices in the Republic of Armenia, the Republic of Belarus and the Kyrgyz Republic.

The Interstate Bank has concluded agreements with the Russian Federation, the Republic of Armenia, the Republic of Belarus, the Kyrgyz Republic, and the Republic of Tajikistan on the terms of presence and on the procedure for and the rules of performing banking operations. The highest management body of the Interstate Bank is the Council of the Bank, consisting of the heads of the central (national) banks and the representatives of the ministries of finance and other governmental authorities of the founder States.

The goal of the Interstate Bank’s activity consists in facilitation to economic integration and development of the national economies of CIS countries by means of creation of the mechanism of settlements for effecting trans-border payments in national currencies, crediting foreign trade operations of CIS countries in national currencies, and participation in implementation of projects of inter-state significance.

The Interstate Bank has direct access to the national payment systems of six countries, namely, the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. The Interstate Bank implements all the arrangements for combating legalization (laundering) of proceeds from crime. – General Information from official Interstate Bank website.

 

Edited and translated by Stepan Kocharyan

 




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