YEREVAN, JUNE 26, NOYAN TAPAN. At the June 24 sitting conducted by the CBA chairman Arthur Javadian, the Central Bank of Armenia (CBA) Board approved the CBA Development Vision and the 2009-2011 Strategical Program. NT was informed by the CBA PR service that by a decision of the CBA Board, an amendment was made to "the regulations 3/01 on the order of insurance and insurance brokerage licensing, registering an insurance agent, registering a subsidiary and representative office of a foreign insurance company in the territory of the Republic of Armenia, and receving a preliminary consent for significant participation in the authorized capital of an insurance company; the form of a business plan of an insurance company, its submission order and terms; qualification of heads and executive officials of an insurance company and an insurance brokerage company; the correspondence and qualification criteria with respect to heads of an insurance company and a person in charge of an insurance broker; the order of checking professional fitness and qualification; and list of subjects for checking professional qualification of candidates for the position of a person in charge of an insurance agent".

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