YEREVAN. - The council of Central Bank of Armenian (CBA) granter a license to Pan-Armenian Bank open joint-stock company on Thursday.

Statutory capital of Pan-Armenian Bank is $100 million, of which the Government will donate $20 million. The rest of the resources will be allocated by international financial organizations and private sources. Leading financial institutions, private investors and Armenian government, with 20 percent of installments, will be among the founders.

Primary aim of Pan-Armenian Bank would be the formation of strong, competitive and science-based Armenian potential, able to increase competitiveness in international market.