YEREVAN, JUNE 30, NOYAN TAPAN. The issue of joint MasterCard Standard
and MasterCard Cold plastic cards by Anelik Bank (Armenia) and Czech
Airlines is of current importance in terms of improving the level of
financial mediation by Armenian banks. Chairman of the Central Bank of
Armenia (CBA) Tigran Sargsian stated this at the event to mark the
issue of these cards on June 29. According to him, the CBA welcomes
any international cooperation that creates greater opportunities for
banking service users in Armenia.

Chairman of Anelik Bank's Board Samvel Chzmachain said that dram,
dollar and euro accounts will be serviced by the cards issued jointly
with Czech Airlines. The holders of these cards will have an
opportunity to make use of services provided by the bank and the
airline at certain discounts.

In his words, Anelik Bank has already issued over 10 thousand plastic
cards. It is expected that their number will reach 14-15 thousand by
late 2006. The bank istalled 11 cash dispensers in Armenia, mainly in
Yerevan, and intends to install another 7-8 by the end of this
year. It is also envisaged to increase the number of POS terminals in
shops and service facilities from current 200 to 250.

Hubert Pikl, Czech Airlines' Managing and Commercial Director, noted
that issuing joint cards will be conducive to a growth in passenger
turnover between Yerevan and Prague. In 2004, this index made 7
thousand, while in 2005 it increased to 16 thousand passengers.

It is noteworthy that it was the second case in Armenia when a local
bank issued plastic cards jointly with a foreign airline.