Union chairman offers new cooperation model for Armenian Central Bank and Iranian Bank Melat
14.06.2012,
19:21
Gagik Makarian, chairman of the National Union of Employers of Armenia, has unveiled today a model of cooperation which he said Armenian Central Bank and Iranian Bank Mellat may use to bring Iranian capital to Armenia.
YEREVAN, June 14. /ARKA/. Gagik Makarian, chairman of the National Union of Employers of Armenia, has unveiled today a model of cooperation which he said Armenian Central Bank and Iranian Bank Mellat may use to bring Iranian capital to Armenia.
"Iranians traveling to Armenia have to buy US dollars to exchange them here for Armenian drams. The Central Bank and Melat Bank may develop a mechanism for Armenian businessmen to obtain Iranian currency through Melat Bank and Iranians may obtain drams when in Armenia," he said.
According to him, this model can operate given its endorsement by the Central Bank of Armenia. He said it could also boost tourism industry and real estate business, especially in view of sanctions imposed by Western countries on Iran due to which there is a’ shortage of hard currency in Iran.’
"The Iranians can not buy dollars in their country, so if they know they could exchange their money for Armenian drams here it will attract Iranian capital to Armenia," he said.
About 30,000 Iranians visit Armenia a year. Their biggest inflow is in late March to celebrate Novruz holiday (Iranian new year). Each Iranian spends here $1,600.
Bank Mellat was established in Armenian in 1995. According to ARKA’s data, as of March 31, 2012 its assets totaled 17.2 billion drams, liabilities - about 6.9 billion drams, and the net profit in the first quarter was more than 70.1 million drams.-0-
