Armbusinessbank, emphasizing the rapid development of the leasing financial instrument, signed an agreement on membership of the Lessors Association of Armenia.

“Our cooperation is of great importance in the context of raising awareness of the field and developing leasing. The bank spares no efforts to introduce modern tools, innovative products and raise public awareness about them. The opportunity to directly participate in the legislative improvement works of the field is also important,” Gevorg Tarumyan, Chairman of the Executive Board of “ARMBUSINESS BANK” CJSC said.

The President of the Lessors Association of Armenia, Arsen Bazikyan, expressed confidence that the new participant of the leasing market, being a bank serving the real economy and having a large base of potential leasing customers, has a great opportunity to introduce leasing as a competitive tool in the banking market along with the existing tools.

“The purpose of the membership is to create a more favorable activity environment for all parties involved in the various stages of the leasing transaction, to jointly formulate the problems and the methods of solving them, to obtain unified solutions in the sector, in anticipation of the result of branch reforms and improvement of the sector.

The cooperation of Armbusinessbank and the Lessors Association of Armenia will undoubtedly contribute to the identification of problems in the leasing sector, as well as the implementation of new legislative initiatives and changes with joint efforts,” the bank said in a news release.

Armbusinessbank is controlled by the Central Bank of Armenia.