Yerevan/Mediamax/. “Financial-Banking College” Foundation (FBC) and Armenian Association of Insurance Market Participants signed an agreement on cooperation in Yerevan today.

Mediamax reports that signing of the agreement on cooperation took place within the framework of “Armenia as a Country of Realizable Opportunities” program, implemented by “Financial-Banking College” Foundation. Within the framework of bilateral cooperation, FBC will organize educational programs for representatives of Armenian insurance companies.

According to the Executive Director of FBC Armen Saroyan, “Financial-Banking College” Foundation, following its mission, continues implementing programs on increasing professionalism level of specialists and candidates of the financial system.

Saroyan noted that the agreement on bilateral cooperation once again proves readiness of the Foundation to assist development of Armenian insurance market by joint efforts.

As the Chairman of the Board of Armenian Association of Insurance Market Participants Armen Petrosyan stressed, at the current stage of Armenian insurance market development, the Association focuses its attention on forming trust towards insurance among the population and realizing processes of insurance market development.

According to Petrosyan, given introduction of compulsory insurance system in the country, the expected expansion of insurance companies and increasing competition, insurance companies will experience need in competent young personnel, whose training is one of the primary tasks of the Association.

Within the framework of today’s meeting, Deputy Chairman of the Central Bank of Armenia Vache Gabrielyan made a presentation on “Compulsory insurance of liability, based on use of car transport means”, and the Chairman of the Union of Banks of Armenia Ararat Ghukasyan presented “Ways of administrative solution of disputes: use of the institute of financial arbitration in Armenia”.