Lebanese Banks to Make Investmen’s in Armenian Banks

YEREVAN (Noyan Tapan)–The Central Bank of the Republic of Armenia and the Central Bank of Lebanon signed a Memorandum "On the exchange of specialists–information and experience" on October 31.

The Memorandum provides for technical cooperation including retraining of personnel–mutual consultations–and visits of officials and the staff for exchanging experience. Also–the Memorandum provides for the exchange of information on financial and banking activities–assistance to Lebanese banks in their activities on the Armenian market and vice versa.

Relevant legislation will be created for ensuring regular financial activities between the two countries. In the near future each side is to prepare for signing agreemen’s on the aforementioned points.

Lebanese banks are preparing for making investmen’s to Armenian banks. Among the first such banks may be Trustbank and Ardshinbank of which Vice-President of the Lebanese Central Bank Harutiun Samuelian expressed a positive opinion.

Both the banks have their representations in Lebanon–and 17 of 140 Lebanese banks established correspondent relations with Armenian banks.

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