Yerevan, October 13 /Mediamax/. The Chairman of the Central Bank (CB) of Armenia Tigran Sarkisian stated today that money transfers have a significant importance for overcoming poverty and stimulating the economic growth in Armenia.

Mediamax reports that Chairman of the Armenian CB said this, speaking at the International Interbank Conference “Money Transfers. Retail banking Services” in Yerevan today, which was organized by the “Planet Diaspora” Company (Russia) and the “ANELIK - money transfers” system.

Tigran Sarkisian stated that for many families in Armenia money transfers from relatives are the main source of income. At the same time, he stressed, the annual growth of the volumes of money transfers to Armenia results in the dollarization of the economy, to reduce the level of which is a task of relevant importance for the Armenian Central Bank. The CB Chairman voiced confidence that without the reduction of the level of dollarization the Armenian economy will be more vulnerable depending on outside factors.

“By reducing the level of dollarization, we increase the stability of the economy”, Tigran Sarkisian stated. The Head of the Armenian CB voiced an opinion that the money transfer systems may assist the reduction of the dollarization level, if they start working with the national currency.