Central Bank of Armenia

The Central Bank of the Republic of Armenia (Armenian: Հայաստանի Հանրապետության Կենտրոնական Բանկ) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and keeping the government's currency reserves. The CBA is also the sole owner of the Armenian Mint.

The bank is engaged in policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.

On July 3, 2012 the Central Bank of the Republic of Armenia announced it would be making specific commitments to financial inclusion under the Maya Declaration.

On September 28, 2012 at the Global Policy Forum 2012, the bank made an additional commitment under the Maya Declaration to encourage the roll out of private sector products that respond to the needs of the poor, with an emphasis on innovative channels like mobile and electronic money. And to also implement a swift, effective, and free complaint-handling system via the financial mediator office, and improve the regulatory framework so that consumers have the information, protection, and ability to access all services.

The current chairman of the CBA is Arthur Javadyan.

The Central Bank Board is the highest body of the management of the Central Bank. The Central Bank Board consists of the chairman, his two deputies and 5 members of board. Chairman of the Central Bank and Deputy Chairmen of the Central Bank are included in the Central Bank Board according to position. The Chairman of the Central Bank is the highest official of the Central Bank. The Chairman is responsible for the fulfillment of the objectives set by this law. In the absence of the Chairman or if he is incapable to perform his duties, he is substituted by one of his deputies, and in case of absence, or impossibility to govern by the deputies, the eldest member of the Central Bank Board shall act in his place. The Chairman is appointed by the National Assembly, at the presentation by the President, for a period of 6 years, and The Deputy Chairmen are appointed by the President, for a period of 6 years. The Central Bank Board members are appointed by the President of Armenia for a period of 5 years. Members of the Central Bank Board cannot hold any other paid position in the Central Bank. The Chairman of the Central Bank coordinates and ensures the work of the Central Bank, represents the Central Bank in the Republic and abroad, as well as in the international organizations, implements other rights assigned exclusively to the Central Bank Board. The Chairman, his deputies as well as Board Members cannot be members in management of any party, may not hold another state title, or perform other payable work, except for the scientific research, pedagogical and creative activities.

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Wikipedia