YEREVAN. – One of the foreign companies is ready to open a private pension fund in Nagorno-Karabakh, Central Bank of Armenia (CBA) chairman said.

“It is too early to name the company, but we will inform about it in the near future,” Arthur Javadyan told Armenian News-NEWS.am.

Foreign companies’ participation in private pension funds in Armenia is compulsory. According to the regulations of the Central Bank, the pension fund management company must have at least one international shareholder.

An accumulated pension system will come into effect in Armenia from January 1, 2014.