YEREVAN, JUNE 7, NOYAN TAPAN. Armenia has some prerequisites for becoming a regional financial center and should also make efforts to become an international financial center, the chairman of Araratbank OJSC's board, CEO Ashot Osipian stated at the June 6 press conference. He explained that the indicated prerequisites are conditioned by the fact that by its legislation on the financial system, normative regulation field and financial technologies Armenia is not inferior to other financial centers. It was underlined that these prerequisites should be used, while taking into account internationa structures' interest in the Armenian financial market. In his words, in order to achieve these goals, Armenia should improve financial intermediation and access to the financial market. The head of the USAID Armenian Financial Sector Deepening Project Robert Singletary in his turn said that Armenia's financial system shows sustainable development tendencies which will probably have a positive impact on economic development. In his opinion, the Armenian economy should get rid of its dependence on remittances from abroad.

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