Drama without borders

The Armenian government intends to attract the means of Diaspora, the Armenian government at the end of last week announced his intention to create an all -Armenian bank by the end of the year. For the first time, the idea sounded at the annual assembly of the Union of Banks of Armenia in May. Then Prime Minister Tigran Sargsyan said: “The obvious advantage of the financial center formed in Armenia is the opportunity to use the Armenian world platform, and not a single world financial center has this advantage.” After all, the number of ethnic Armenians outside the country three times exceeds its three -million population.

It is assumed that the founders of the All -Armenian Bank will be made by the Armenian government with a share in capital at least 20%, international financial institutions and private investors. The minimum authorized capital will amount to 30 billion drams (approximately $ 100 million), and the main management bodies will be a meeting of shareholders, council and directorate.

“The idea is very good for Armenia with its large and strong diaspora in many countries. Those funds provided by Armenia for various projects by Kirkom Kerkoryan (USA), Ernesto Ernekyan (Argentina) and the Aiastan All -Armenian Foundation, can be invested in the bank created, ”a source of the Armenia Ministry of Finance told the newspaper to remain unnamed.

According to the head of the Central Bank of Armenia Arthur Javadyan, the All -Armenian bank will finance projects containing innovative elements and implemented by members of the so -called All -Armenian network in any country in the world. “The bank will carry out all operations with the exception of opening accounts and their maintenance, as well as reception of deposits with a size of less than 100 thousand drams. The plans include direct investments, issuing loans, provision of guarantees, bond issuance. But the All -Armenian bank will not compete with other local financial structures, ”said Javadyan.

According to the expert on economics and finance Ashot Egiazaryan, the idea of creating a bank is quite sound, but the question is who and how it will be realized. “For the institution of really the All -Armenian bank, a team of like -minded people need a team,” the expert noted the newspaper correspondent. “The bank must finance national projects, attracting the means of diaspora, and in no case be commercial. If these conditions are not met, then the new financial institution will simply become another bank. Honestly, I do not really believe in this idea, although in the conditions of the global financial crisis everything may be and everything may It turns out. "

11.11.2008 / Karina Ter-Sahakyan / Yerevan, the material was published in the "newspaper" No. 218 dated November 17, 2008.