Kocharian Calls for Full Independence of Central Bank

YEREVAN (Noyan Tapan)–The Central Bank is one of the most important government institutions–said Armenian President Robert Kocharian at a meeting with the CB Board members late last week. The state is striving to ensure the proper independence of the Central Bank and its Board–Kocharian said.

According to CB President Tigran Sargssian–the CB Board is the internal legislative body that regulates all relations in the banking sphere and provide the normative framework. The board members are protected by the Law on the Central Bank.

During the meeting the sides discussed the activities of the CB Board–CB-Parliament and CB-government relations–problems in the banking sphere and financial market trends.

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