Union of
Credit Organizations of RA

On 6 April 2016, the General annual meeting of Union of Credit Organizations of RA (UCORA) took place at “Erebuni Plaza” business center. Beside the member credit organizations of UCORA, among the invitees were representatives from non-member credit organizations, Office of the Financial System Mediator, Union of Banks of Armenia, other partner organizations.

On the opening of the annual meeting the Chairman of UCORA Armen Gabrielyan welcomed all the participants. He thanked all the members of Union for productive joint work, due to which a number of problems in the sector were raised and resolved. He also presented to the guests the results of the elections of the Union chairman in the previous month, according to which Luiza Igraryan was elected as the new chairman of the Union.

The newly elected chairman mentioned in her speech that UCORA has already created strong basis and obtained values that should be preserved and developed further. She assured that the large-scale works will be continued and the voice of credit organizations will become more unified and strong.

The executive director of the Union Narine Terzyan presented the works that had been done by the Union during 2015, as well as shared the plans for the current year. She mentioned that the Union actively works with the Central Bank and other State agencies, as a result of which many suggestions raised by the members has been reflected in legislative reforms on financial sector. The results of cooperation with local and international organizations were also presented, which lead to implementation of programs towards responsible finance and financial inclusion, as well as training courses to increase the qualifications of member organization’s specialists.