Annual Report 2019
OTHER OBJECTIVES OF
THE CENTRAL BANK
MAIN
CENTRAL BANK OF
OBJECTIVES
THE REPUBLIC OF ARMENIA
Financial system regulation and supervision: A number
of legislative amendments were initiated during the year in the context
of improvement of the financial system's regulatory framework.
Moreover, in 2019 the Central Bank continued its supervisory
functions to ensure the stability of the financial system, measure the
financial organizations' risk exposure, compliance with the legal
framework, combatting money laundering and terrorism financing,
protection of consumer rights and interests in the financial system and
other relevant aspects. Violations revealed as a result of supervision
were eliminated and measures were taken to prevent such violations
in the future.
Securities market regulation: As part of pursuing
improvement in the securities market, the Central Bank started
working on a capital market development project. Aimed at creating
new tools, the project will facilitate investment of the country's savings
into the real sector of economy, while enabling the population to
participate in investment projects in the country and generate income
from such participation.
Payment and settlement system regulation: In 2019
the Central Bank continued activities for ensuring further development
and reliability of payment and settlement systems, expanding the
volume of non-cash payments and improving the payment and
settlement systems regulatory framework. In 2019 a memorandum
of understanding on transparency in the money transfer market and
directives on consumer protection was signed under the Eurasian
Council of Central Banks. This will enhance cooperation of the
countries that signed the memorandum in the field of money transfers
without opening a bank account, and will increase the transparency
of this market.
Developing training and research capacities: In 2019
the Dilijan Training and Research Center continued its activity in three
main areas: research, international cooperation and social
responsibility. More research on Armenian and global economy was
carried out and published as well as international seminars were held
at the Dilijan TRC during the year. The aim of the events is to enhance
ANNUAL
REPORT 2019
21
COOPERATION WITH I
NTERNATIONAL ORGANIZATIONS
INSTITUTIONAL
DEVELOPMENT
OTHER OBJECTIVES OF
THE BANKView entire presentation