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Central Bank of Armenia

Central Bank of Armenia

Yerevan, Armenia

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Description The Central Bank of the Republic of Armenia is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and keeping the government's currency reserves. The CBA is also the sole owner of the Armenian Mint.The bank is engaged in policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.On July 3, 2012 the Central Bank of the Republic of Armenia announced it would be making specific commitments to financial inclusion under the Maya Declaration.On September 28, 2012 at the Global Policy Forum 2012, the bank made an additional commitment under the Maya Declaration to encourage the roll out of private sector products that respond to the needs of the poor, with an emphasis on innovative channels like mobile and electronic money. And to also implement a swift, effective, and free complaint-handling system via the financial mediator office, and improve the regulatory framework so that consumers have the information, protection, and ability to access all services.The current chairman of the CBA is Arthur Javadyan.PurposeMission of the Central Bank to be a prestigious, transparent, independent, knowledge-based and effective entity that understands and appreciates development trends in international financial community to maintain institutional capacities in order to promptly respond to changes in economic landscape and effectively influence economic processes to always support a sustainable macroeconomic development of Armenia while remaining a key partner to the Government in facing economic challenges

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