On June 4, the joint meeting of the Union of Banks of Armenia and the Business Integrity Club was held. During the meeting, Seyran Sargsyan, the Executive Director of the Union of Banks of Armenia, shared approaches on what opportunities can be provided to clients-partners, including SMEs, acting with ethical principles, in their relationships with banks. He noted that the Union of Banks of Armenia approved the Banking Code of Conduct in April 2021, which sets basic standards of conduct for the members of the Union. Arman Sargsyan, the Deputy Executive Director of the Union of Banks of Armenia, and Nelly Ayvazyan, the Analyst, presented the Code in more details. The features of the legal implementation of the Code were also revealed through Q&A session.
Narine Melikyan, the Director of the Corporate Governance Center, spoke on behalf of the Business Integrity Club, and presented the features of corporate governance in SMEs and opportunities for gradual and consequent introduction of the culture of integrity, emphasizing the role of collective initiatives of the business community in this process, such as the Business Integrity Club.
