Interview of the Head of “Anelik” money transfer system Armen Kazarian to Mediamax News Agency and Banks.am web-portal

- The international interbank “Money Transfers. Retail Banking Services” conference will take place in Yerevan on October 10-13. What issues will be priority ones during the upcoming conference?

- The basic tasks of money transfer systems today are the improvement of the technical platforms, the innovation systems of currency integration, the provision of electronic payment services to the customers. I believe that the issue of enlargement and improvement of the quality of the services spectrum for the users of money transfer systems will be actively discussed during the conference.

Of course, one will also pay attention to the topics, related to the legalization and the struggle against the money laundering. Taking into consideration the fact that the conference is a multi-national one, the reports of the participants will be devoted to the prospects of growth of transfer volume in CIS and Baltic states.

- Representatives of which money transfers systems will be participating in the conference?

- We expect representatives of systems from Israel, Estonia, Russia, Armenia, Ukraine and Georgia.

- The Armenian banking system is actively represented in money transfer systems in the whole world, which is in the first place conditioned by the factor of the Armenian Diaspora. What is your assessment of the dynamics of the “Armenian factor” in the systems of money transfer?

- The dynamics of transfers to Armenia is active and will be such for many years.

Special increase of the inflow of money transfers to the country this year is registered in the directions Russia-Armenia, USA-Armenia, Ukraine-Armenia, which, naturally, is connected to the Diaspora factor. I should note that in the course of the recent years, considerable increase of transfers from Armenia to other countries was registered as well.

- Do you agree to the opinion that the money transfers from abroad are almost the main engine of the Armenian economy?

- Unfortunately, this is true. I would like the economy of Armenia depending on other factors, but today the main Armenian labor force is outside the country, which, of course, brings great profit to money transfer systems. Profit is profit, but I am sure that the given engine is not long lasting. This is not a way to reach real progress.

- What is your assessment of the level of cooperation of the Armenian and Russian banking communities, and in which spheres you would like to see a more active collaboration of those?

- The interrelation of the Russian and Armenian banking systems is very strong. Our communities are friendly and they cooperate in many spheres. The interaction of the national currencies is not yet sufficiently large, and each country is burdened by its currency legislation. However, here as well we can and should find common points. For example, ANELIK system implemented a new service: sending Russian rubles, the customers of “ANELIK” bank can receive the money in AMD.

- A few new foreign players will enter the Armenian banking market by the end of the year. Don’t you think that this may lead to a glut of the market, including the one concerning money transfers?

- As compared to the Armenian credit organizations, the investments and the capital of foreign banks are huge. Of course, the foreign players will become serious competitors for the Armenian banks in the sphere of consumer crediting, crediting of small and medium enterprises. What concerns the money transfers, here the systems of CIS states are beyond comparison. We offer low and flexible tariffs, which have not been offered by any foreign money transfer system so far.

- What are the basic trends of the development of the international money transfer market and what influence may they have on the post-Soviet territory and on Armenia in particular?

- The basic corridors of money transfers in the world have formed a long time ago. In particular, the Latin-American and the Chinese ones. Russia is the basic donor for the countries of former Union. So, one can say with confidence that “Russia – CIS states” is the strongest world corridor in the international money transfers market. Undoubtedly, the growth of transfers in the CIS states will continue. Armenia, in its turn, will remain an active part of the given corridor.