The president of the RA Central Bank Artur Javadyan says that during one month the Central Bank of Armenia will prepare a draft law on the pan-Armenian bank and will submit it to the National Assembly, and this institution will be established either at the end of this year or in the beginning of next year. The Pan-Armenian Bank will have about $100 million charter capital. The state will owe 20% in the capital and the other shares will belong to domestic and international financial organizations and private investors. The main purpose of the PB will be projects targeted at sponsoring pan-Armenin projects and projects with innovative and long-term goals. Artur Javadyan assures that the PB will not be involved in the sector of trade banks and will not become their competitor.
