YEREVAN, March 16. /ARKA/. The year 2006 will be crucial for mortgage market development in Armenia, the newly appointed Chairman of the Union of Banks of Armenia (UBA) Stepan Gichyan stated in his interview to the Ra public Television.
“The mortgage market remains in the center of attention of the RA President and Government, as well as of the heads of banks and the UBA,” Gishyan said.
He pointed out that Armenia’s banks intend to intensify their activities in developing the mortgage market.
He also stressed that the UBA intends to take a number of steps, particularly, enhance is role in drafting economic bills for banks’ interests to be represented in a better way.
Gishyan also pointed out that one of the UBA’s most important tasks is facilitating the increase in the number of transactions effected by means of banks, which will reduce the share of shadow economy.
According to him, the mobilization of Armenian banks’ resources will contribute to the formation of internal resources, which will later be provided to economic entities.
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