Yerevan /Mediamax/. Pan-Armenian Bank will start functioning in June, 2009.

Mediamax reports that the Chairman of the Central Bank of Armenia Artur Javadyan said this today. According to him, by the end of the year the bank will be registered in Armenian CB and 6bln AMD will be transferred to the accumulative account of the Central Bank.

Artur Javadyan informed that today there are works in process on searching for candidates for the position of the bank’s head. He noted that an international headhunter company deals with the searches. After the appointment of the bank’s head, a business plan will be composed, personnel will be invited, a building and technical equipment will be provided.

Artur Javadyan noted that the license to the Pan-Armenian Bank will be issued a few months later.