Central Bank of Armenia

The Central Bank Board consists of the chairman, his deputy and 5 members. Chairman of the Central Bank and Deputy Chairman of the Central Bank are included in the Central Bank Board according to position. The Central Bank Board members are appointed by the President of Armenia for a period of 5 years. Members of the Central Bank Board can not hold any other paid position in the Central Bank.

The Chairman of the Central Bank is the highest official of the Central Bank. The Chairman is responsible for the fulfillment of the objectives set by this law. In the absence of the Chairman or if he is incapable to perform his duties, he is substituted by hisdeputy, and in case of absence, or impossibility to govern by the deputy, the eldest member of the Central Bank Board shall act in his place. The Chairman is appointed by the National Assembly, at the presentation by the President, for a period of6 years, and The Deputy Chairmanis appointed by the President, for a period of 6 years.The Chairman of the Central Bank coordinates and ensures the work of the Central Bank, represents the Central Bank in the Republic and abroad, as well as in the international organizations, implements other rights assigned exclusively to the Central Bank Board. The Chairman and his deputy as well as Board Members cannot be members in management of any party, may not hold another state title, or perform other payable work, except for the scientific research, pedagogical and creative activities.