Yerevan /Mediamax/. After formation of the corresponding legislative field, investment funds will appear the Armenian financial market.

Mediamax reports that Chairman of Armenian CB Artur Javadyan said this today, speaking at the session of the Heads of CIS security markets’ regulatory bodies in Tsakhkadzor.

“Armenia is carrying out pension reform and transition to two-phase pension system is planned for since 2011. We have quite serious attitude as to its social role and we also constantly remember about its major assistance role in developing security market. Laws on “Investment funds” and “Accumulative pensions” are at the stage of elaboration. After formation of the corresponding legislative field, investment funds will appear in our financial market and fund administration will be functioning. We hope that the sphere of life insurance will also develop. Thus, after realizing the reform, our financial market will turn out to be more attractive for its new participants”, Artur Javadyan stated.