Yerevan, 25.June.2024,
Futsal tournament Galaxy Champions League 2024 kicks off Unibank is now a regular partner of “Pan-Armenian intellectual movement” IDBank issued another tranche of dollar bonds Green Iphone on the best credit terms at green operator's stores UCOM Provided technical assistance to Shengavit administrative district AMD 9,808,684 to the "City of Smile" Charitable Foundation. The next beneficiary of "The Power of One Dram" is known Unibank offers a “Special” business loan with an interest rate of 8.5% per annum IDBank implements the next issue of nominal coupon bonds Flyone Armenia will start operating regular direct flights Yerevan-Moscow-Yerevan New movie channels in Ucom and good news for unity tariff subscribers

Grigori Zakaryan: “Capital markets have a crucial for economic development.”


At the initiative of Converse Bank, a panel discussion titled: ‘Capital Markets, Challenges and Development Prospects’ will be held as part of EBRD's annual meeting. We talked about this with Grigori Zakaryan, the Director of the Investment Department of Converse Bank.


  • Mr. Zakaryan, what is the reason for choosing this topic?


  • Capital markets as such, the developments taking place in them, and emerging trends have a significant mutual impact on the particular countries’ economies and the global economy. In general, the wealth, which is formed or, if you like, "produced" along with economic development, needs to be effectively managed, which in a broad sense is the duty of the financial industry management. This wealth flows into capital markets, forms their basement, and dictates its own rules for the progress. Moreover, in a broader context, capital markets are influenced not only by the course of large economies central banks’ monetary policies but also by important geopolitical events. We have no shortage of such events, so we attach great importance to analyzing capital markets in order to comprehend the developments taking place in them and to make certain forecasts.

  • How would you describe Armenia’s capital market? What are the main challenges and what development prospects do you see?


  • The capital market in Armenia is a newly emerging and developing institution with unique opportunities and challenges for development, such as: a lack of instruments in the financial market, as well as a shortage of issuers of securities, a weak desire to enter the capital market, limited investment opportunities, etc. Currently, the money market and debt securities market is developing at a faster pace, the main participants of which are financial institutions, i.e. the banks. There are also several issuers of equities whose participation cannot be overestimated, as they will have a fundamental impact on the course of further development.

As for the prospects, I think the development of Armenia’s capital market will depend on a significant increase in the number of new issuers and issues, and on how the process of bringing companies to capital markets turns out.

Preconditions are being established, such as: new participants emerging, there is a certain demand for the creation and launch of capital market products, financial institutions providing investment banking services, and other steps are actively taken in these directions.


  • How will the development of the capital market affect the economy in Armenia?


  • To put it very briefly, it should be noted that without the establishment of this institution, it’d be hard to imagine broader sustainable economic development. It is an indispensable source of liquidity, long-term money and fund-raising capability in various risk profile economic sectors, especially for capital-intensive companies. The capital market is one of the economic pillars of the country, therefore, its establishment and integration into global markets is a good platform for Armenian businesses. 


  • What is Converse Bank's policy in this matter?


  • As one of the leading financial institutions in Armenia, we also share the responsibility of creating and developing this market. At this stage, we support companies from various sectors of the economy in the process of issuing and placing their securities, acting as market makers for different securities, developing digital infrastructures for investing in securities, etc.


  • What do you expect from the panel discussion?


  • Given the professional expertise of the colleagues involved, an interesting and productive event awaits us, during which we will discuss not only issues related to Armenia’s capital market but also international experience related to developing and overcoming challenges of those markets.
Renowned Pianist Hayk Melikyan in South America: A Tribute to Armenian Classics The CB RA has granted permission for the cooperation of UBPAY Armenian and KWIKPAY international transfer systems Futsal tournament Galaxy Champions League 2024 kicks off Ucom Hosts a Student Program during the Summer Holidays Saving on Wildberries with IDBank Amio Era. Memorandum was signed with the Armenian National Agrarian University IDBank issues the 3rd tranche of dollar bonds of 2024 Ucom’s General Director Spoke about Personal Growth and Quality Management is the official ticketing agent for the concert of the world renowned Black Eyed Peas in TbilisiUcom Launches New Postpaid Packages Amio Era. Memorandum was signed with Yerevan State UniversityExclusive access to all EURO 2024 games for Ucom subscribersidcoin: New tool in IDBank’s loyalty system Ucom’s Fixed Network Launches in Nor Hachn About 173 Million Drams and More Than 30 Beneficiary Funds. "The Power of One Dram" is 4 Years OldAmio Era. Memorandum was signed with Russian-Armenian UniversityThe Power of One Dram to The Road of Life: July's Beneficiary is Strong MindAraratBank places dollar bonds Yerevan State University and Ucom signed a Memorandum of Cooperation Amio Era: Memorandum was signed with the Armenian State Pedagogical University after K. Abovyan IDBank and Dalma for the Caucasian Deer Reintroduction Program Through Ucom’s Support the 12th Sunchild Festival Concludes Carpisa gift card worth AMD 50.000 from IDBank Amio Bank and Visa celebrated the launch of the Visa Business Signature Card Ucom’s General Director participates in Graduation Ceremony of Leadership SchoolExclusive Georgian Music Concert in Yerevan EPIC Applauds EWC Armenia 2024 National Prizewinners Three Victorious Startups Advance to Global Competition Ucom Supports Youth Environmental Education The 12th "Sunchild" Environmental Festival Launched with Ucom's Support "Armavir" branch of AMIO Bank was reopenedAraratBank completes placement of bonds ahead of schedule Amio Era. Memorandum was signed with Yerevan Brusov State University of Languages and Social Sciences Tree Planting Results with My Forest Armenia: The Power of One Dram Your home is in Armenia – Ameriabank offers mortgage loans for the Diaspora Ucom Supports the Next “SunChild” Festival in Armenia Ameriabank՛s Trade Finance portfolio enriched with four prestigious awards from EBRD and IFCAmio Bank has signed a memorandum with the Ministry of Education, Science, Culture and Sports of RA within the framework of the corporate social responsibility program Rocket Line - now for 60 months: Idram and IDBank Amio Bank issued dram bonds Ucom Celebrates Telecommunication Day "Artashisyan" branch of Amio Bank was reopenedFrom now on AMIO Mobile banking will have a new opportunity The Power of One Dram Sums up the Two-Year Program with Teach for Armenia Grigori Zakaryan: “Capital markets have a crucial for economic development.” Ucom's General Director Participates in High-Tech Development Panel Discussion Instant transfers to Russia and from Russia to Armenia via phone number IDBank issues the 2nd tranche of dollar bonds of 2024 "Amio Era". Education is a chance to change life!Ucom's fixed network is launched in Artashat “By Your Side”: IDBank's new support program for displaced Artsakh citizens