Description:

After Armenia was proclaimed as an independent Republic in 1991 the State Bank of the country was charged with responsibility and functions as a National Bank of the Armenian Republic. On April 27, 1993, the Republic of Armenia Law on “The Central Bank of the Republic of Armenia” was adopted. It determined the primary goal of the CBA – ensuring price stability in the Republic of Armenia. To achieve this goal, the Central Bank elaborates, approves and implements the monetary policy of the Republic of Armenia. Among other goals are :provide conditions for the stability, liquidity, solvency and normal functioning of the financial system of the Republic of Armenia, create and develop an effective payment and settlement systems, issue the currency of the Republic of Armenia, organize and regulate money circulation, organize and regulate a framework for combating money laundering and terrorism financing, ensure necessary conditions for protecting consumers’ rights and legitimate interests in the financial system, and other. Since 2021 the CBA has chosen excellence, reformation and respect as key values of the CBA’s strategy, which will allow to achieve the objectives aimed at strengthening the CBA’s identity and formation of a new corporate culture.