YEREVAN, July 6. /ARKA/. The week in Armenia's financial market was characterized by regulatory and institutional adjustments. The focus was on currency dynamics, banking regulation, capital markets, money transfers, social-financial instruments, and interaction with international financial structures.
1. Banks and Compliance: Mechanism for Bank Restructuring Introduced Instead of Liquidation
The National Assembly of Armenia approved the law on 'Bank Restructuring' and several related laws on July 3. The law proposes to introduce a bank restructuring institute, with exclusive powers assigned to the Central Bank of Armenia.
2. Currency Market: Dollar Remains Stable, Euro and Ruble Increase
According to the Central Bank, during the week, the exchange rate of the dollar against the Armenian dram slightly decreased, while the euro and ruble increased.
3. Social Finance: Reverse Mortgage for Pensioners to Be Implemented in 2027
The Armenian Parliament adopted amendments to the Civil Code on July 3, introducing a reverse mortgage for pensioners.
4. New Appointment: Fabrizio Zarcone Heads World Bank Group in Armenia
Fabrizio Zarcone assumed the position of head of the World Bank Group in Armenia on July 1.
5. Money Transfers: Net Inflow Increased 2.12 Times Over 5 Months
According to the Central Bank of Armenia, the net inflow of cross-border transfers to individuals in Armenia amounted to $1.08 billion.
6. Capital Market: Limit for Participants in Non-Public Investment Funds Increased to 99
The National Assembly of Armenia approved an amendment to the law on 'Investment Funds' on July 3.
Weekly Summary
The main focus last week was on strengthening the regulatory framework, expanding investment infrastructure, and servicing the growing financial flows of the population.
