The widespread dissemination of financial services with the use of innovative technologies is one of the strategic directions of the Central Bank of Armenia.

The Central Bank reports that Martin Galstyan, Central Bank Chairman, said this during the presentation of the World Bank’s “World Development Report.”

Among the strategic directions, he also mentioned the development of payment infrastructure to ensure efficient financial flows and the introduction of corporate governance mechanisms to increase transparency in the banking system.

Martin Galstyan said that, according to external observers, Armenia has achieved significant progress in ensuring price and financial stability, which is of particular importance given the risks and uncertainties of recent years.

He stressed that price and financial stability is the cornerstone of economic progress, as they are essential for attracting investments and ensuring sustainable economic development.

Martin Galtsyan noted that the Central Bank is focusing its efforts on increasing competition in the financial sector, promoting innovation and improving the investment environment to increase access to new technologies, financial products and services.

“One of our most important missions is to create an environment that will serve as the basis for long-term, structural reforms,” the Central Bank Chairman emphasized.