Yerevan /Mediamax/. Armenian parliament initiated discussion today on the draft law on “All-Armenian Bank”.

As the Chairman of the Central Bank of Armenia Artur Javadyan stated at the special session of the National Assembly today, the All-Armenian Bank will be an open joint stock company (OJSC), which will function on equal terms with commercial banks of Armenia, at that not competing with any of them. The All-Armenian Bank will be exempted from the profit tax.

CB Head stated that in the nearest future the bank’s business plan at the volume of $100mln will be approved.

The bank’s activity will be regulated by the Central Bank of Armenia.