High percentage of cash turnover major problem of Armenia’s banking system
11.10.2007,
21:00
High percentage of cash turnover is a major problem of Armenia’s banking system, Board Vice-Chairman, Anelik bank, Armenia, Vladimor Badalyan told a press conference.
YEREVAN, October 11. /ARKA/. High percentage of cash turnover is a major problem of Armenia’s banking system, Board Vice-Chairman, Anelik bank, Armenia, Vladimor Badalyan told a press conference on the occasion of the 4th international banking conference “Money transfers, retail banking services”.
“If we can reduce this percentage and organize turnover through banks for the population to purchase goods by means of ATMs, POS-terminals, and cards, Armenia’s banking system will be harmonized with the global banking system,” Badalyan said.
He pointed out that Armenia’s banking system is integrated into the global banking system, and Armenian banks carry out all the banking operations practiced worldwide.
“I see prospects for the development of Armenia’s banking system in higher-quality services,” Badalyan said. He also pointed out the necessity for more rational use of instruments, particularly of bank cards.
The 4th international conference “Money transfers, retail banking services” is to last until October 13.
Among the participants in the conference are CBA Chairman Tigran Sargsyan, President of the Association of Russian Banks Garegin Tosunyan, Chairman of the Union of Banks of Armenia Emil Soghomonyan, President of the Moscow International Currency Association Alexey Manontov, representatives of banks and money transfer systems from Armenia, Russia, Ukraine, Georgia, Estonia, Israel. The conference was initiated by the Anelik money transfer system. P.T. –0—
“If we can reduce this percentage and organize turnover through banks for the population to purchase goods by means of ATMs, POS-terminals, and cards, Armenia’s banking system will be harmonized with the global banking system,” Badalyan said.
He pointed out that Armenia’s banking system is integrated into the global banking system, and Armenian banks carry out all the banking operations practiced worldwide.
“I see prospects for the development of Armenia’s banking system in higher-quality services,” Badalyan said. He also pointed out the necessity for more rational use of instruments, particularly of bank cards.
The 4th international conference “Money transfers, retail banking services” is to last until October 13.
Among the participants in the conference are CBA Chairman Tigran Sargsyan, President of the Association of Russian Banks Garegin Tosunyan, Chairman of the Union of Banks of Armenia Emil Soghomonyan, President of the Moscow International Currency Association Alexey Manontov, representatives of banks and money transfer systems from Armenia, Russia, Ukraine, Georgia, Estonia, Israel. The conference was initiated by the Anelik money transfer system. P.T. –0—
