Interview of Mellat Bank Executive Director Mohammad Bagher Bagheri to Banks.am portal

Over a long period of time, we have tried to arrange an interview with the leadership of Mellat Bank. After long negotiations we have been offered to present questions in written. We present the answers without any changes.

- Mellat Bank stood at the origins of establishment of the Armenian banking system by becoming the first foreign bank in our country. However, throughout this period the bank has had a very restrained public policy both in terms of contacts with Media and advertisement campaign. How would you explain this? Didn’t you have occasions to share the successes or, on the contrary, voice any problems?

- Though Yerevan Mellat Bank operates in the Republic of Armenia and has extensive contacts with various society layers the main part of its services are provided to the Iranian students studying in Armenia and Armenians of Iranian descent. Taking into account that these groups are well aware of the services provided by Yerevan Mellat Bank, there was no need for advertising through the media.

- As a rule, the activity of Mellat Bank is associated with the maintenance of import-export operations of two countries’ businessmen. At the same time, you have launched a wide range of traditional banking services. In this regard, it’s interesting to know whether we should put an equality sign between the foreign trade operations and the credit-deposit activity of the bank in connection with setting priorities in Armenia.

- Over the past years, Mellat Bank has been more focused on issuing credits and transitions on currency exchange, servicing of Iranian students and businessmen.

- The number of Iranian tourists visiting Yerevan has significantly grown in last two years. Can this fact lead to the development of the branch or ATM network of Mellat Bank in Yerevan?

-Taking into account the growing number of Iranian tourists, Mellat Bank has the opportunity to provide the services single-handedly and properly, In the future, the issue of opening a new branch and/or installation of POS terminal will be resolved.

- In internet publications we may often come across reports that the existing normative legal base in Iran determines the basic peculiarity of the Iranian banking system, its difference from accepted standards.  What is the peculiarity of the Iranian banking system, and, given the example of Mellat Bank, how does it “get along with” with the Armenian financial-banking legislation?

- Yerevan Mellat Bank is an independent bank which operates according to the Law on Banks of the Republic of Armenia and requirements of the Central Bank.

- According to WikiLeaks publications, in 2008 and 2009 the USA frequently offered the Armenian authorities to reinforce the control over the activity of Mellat Bank. How can you comment on this publication?

- In reply to this question, we inform you once more that Yerevan Mellat Bank operates based on the license provided by the CB of Armenia and its operation is regulated by the Law on Banks of the Republic of Armenia.

- Coming back to the beginning of our conversation, I would like to share with our readers the advertisement campaign of Mellat Bank Head Office available at http://newsregions.ru/?p=313. Don’t you think it’s time to show the creativity to potential clients in Armenia?

- Armenian clients may themselves visit the official web-site of Mellat Bank if necessary and make use of various banking services.