- IMF
The Republic of Armenia joined the International Monetary Fund (IMF) on April 28, 1992. The cooperation with IMF is focused on achieving sustainable growth and prosperity of the country via supporting economic policies that promote financial stability and monetary cooperation, as well as on working out the Armenian position as regards the most important issues related to Fund membership. The Extended Fund Facility/Extended Credit Facility supported program aims to achieve strong growth and poverty reduction, fiscal and external sustainability, and financial sector stability. In addition to financial support, the IMF has a wide-ranging program of technical assistance with Armenia, focused in particular on tax policy and revenue administration, management of public finances, macroeconomic modeling and the inflation targeting framework, contingency planning in the banking sector, and real sector statistics. In its capacity as a member state, the Central bank provides the IMF with information and holds annual consultations with the institution in compliance with the provisions under Article IV of the IMF's Articles of Agreement.
- Regional structures
Cooperation with regional structures is one of the main directions of the Central Bank’s international cooperation which helps to find and strengthen common interests as well as promote national interests, through mutual cooperation and dialogue. The Central bank highlights the significance and dynamics of central bank cooperation with regional structures in promoting monetary stability․ In the regional context the Central bank cooperates with such organizations as Eurasian Economic Union, The Commonwealth of Independent States, Black Sea Trade and Development Bank and others by exploring the challenges and opportunities inherent in such cooperation. This aspect of international cooperation which is aimed at fostering regional integration addresses how the Central bank provides an effective institutional arrangement for regional structures to achieve economic objectives. It is in the best interest of the Central bank to strengthen regional financial cooperation initiatives as they reduce the economic risks implicit in the integration process, aiming to protect the stability of the national financial system and foster national development.
- Standard Setting bodies
The Central Bank cooperates internationally with standard setting bodies which is aimed at participating in international efforts to develop rules and best practices, to improve financial stability and the efficiency of policymaking. The Central bank cooperates with global standard setting bodies in different areas of the financial sector, in particular, in the banking sector (Banking Supervisors from Central and Eastern Europe (BSCEE)), in the sectors of insurance (International Association of Insurance Supervisors (IAIS)), the securities market (The International Organization of Securities Commissions (IOSCO), The International Capital Market Association (ICMA)), green finance (Sustainable Banking and Finance Network (SBFN), Network of Central Banks and Supervisors for Greening the Financial System (NGFS)), anti-money laundering and combating the financing of terrorism (Financial Action Task Force (FATF)) and so on. Undeniably, cooperation of the Central bank with standard setting bodies plays a significant role in promoting economic, financial, and monetary cooperation, which helps to facilitate the implementation of reforms at domestic and cross-border levels in order to benchmark with international standards.
The International Organization of Securities Commissions (IOSCO), established in 1983, is the acknowledged international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. IOSCO develops, implements, and promotes adherence to internationally recognized standards for securities regulation, and is working intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda.
In 2002, the IOSCO created a Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MMOU), the first global multilateral information-sharing arrangement among securities regulators.
Pursuant to the MMOU, signatories agree, among other items, to provide each other with certain critical information, to permit use of that information in civil or administrative proceedings and for onward sharing with self-regulatory organizations and criminal authorities, and to keep such information confidential.
The CBA has been an ordinary member of IOSCO since 2007, an IOSCO MMoU Appendix B member since 2009 and the IOSCO Appendix A signatory since 2018 and effectively cooperates with other counterparties, which are also signatories of the IOSCO MMoU.
The CBA has also joined the IOSCO Administrative Arrangement since 2024. Administrative Arrangement requires that signatories apply the safeguards to the transfer of personal data between them.
Administrative Arrangement sets the rules of processing personal data to carry out the public mandate and exercise of official authority vested in the Supervisory Authorities having membership in IOSCO.
IOSCO Administrative Arrangement.
IOSCO Administrative Arrangement Privacy Notice.
IOSCO Administrative Arrangement Privacy Notice (Armenian).
Personal Data Protection Policy at the Central Bank Of Armenia
- Lenders
To contribute to the overall prosperity of the country the Central bank cooperates with multilateral organizations which support the development of the country through involving in targeted investment programs, credits, loans and grants. The Central bank collaborates with various lending institutions, which cover a large scale of financial and economic sector assistance. For instance, the European Bank for Reconstruction and Development (EBRD) provides financing and technical assistance to commercial banks and other financial institutions to improve their capacity and competitiveness. On the other hand, the Eurasian Development Bank (EDB) considers transportation infrastructure, electric power industry, agriculture and financial markets development priority lines of the its activities. The operations of the Asian Development Bank (ADB) in the country are closely aligned with the government’s priorities, as well as ADB’s strengths, including promoting rural development, developing the private sector, and supporting enhanced regional cooperation. Overall, the Central bank undertakes extensive cooperation with these international structures to pursue common benefits.
- Financial Authorities and International Partners
The Central Bank maintains bilateral relations with central banks and financial authorities of other countries possessing its active role among the international partners. In this level of cooperation, the Central Bank has signed agreements and memorandums of understanding with other financial authorities, performs technical cooperation and high-level dialogue activities. Bilateral cooperation with our partner financial authorities comprises the exchange of experience and knowledge, the sharing of best practices and capacity-building. The Central bank is engaged in bilateral cooperation with other central banks from European and Asian countries (Bank of Austria, Bank of England (CCBS), Bank of Italy, Bank of Korea, Banque de France, Central Bank of Russian Federation, Czech National Bank, De Nederlandsche Bank), also with Global Financial Innovation Network in the purpose of information sharing, policy coordination and joint initiatives to address common challenges. This kind of coordinating policies with different international partners enable to exchange best practices, enhance regulatory frameworks, and collaborate on research and technical assistance programs. Finally, sharing of expertise helps strengthen the effectiveness and resilience of both domestic and international financial systems.