Yerevan/Mediamax/. Armenian parliament approved in first reading today the changes and amendments to the law on the “All-Armenian Bank”.

Mediamax reports that the legislative proposals, presented by the government, provide for the fact that the position of the Chairman or the member of the bank’s board can be combined with the position of its CEO.

While presenting the above-mentioned changes, Armenian CB Deputy Chairman Nerses Yeritsyan said that the changes were elaborated taking into account the fact that the All-Armenian Bank has a special mission and will provide long-term credits and investments, aiming at increasing competitiveness of the private sector and stimulating export.

According to the changes, the All-Armenian Bank can place by means of a public offering bonds and certificates of deposit among non-residents and among residents – by means of a private placement.

At that the size of the means, attracted through bonds and certificates of deposit from each resident should exceed AMD 100mln (USD 270 thousand).

Let’s note that the All-Armenian Bank has not been formed so far.