Which institution is Armenia’s central bank, established as an independent institution in 1993?

The Central Bank of Armenia is Armenia’s central bank, established as an independent institution in 1993.

Armenia’s central banking system took shape after the country became independent from the Soviet Union in 1991. The Central Bank of Armenia was established by law in 1993, providing the republic with an institution responsible for monetary policy, currency issuance, banking regulation, and financial stability.

The bank is headquartered in Yerevan and issues Armenia’s national currency, the dram. The dram was introduced in 1993, making it easy to confuse the currency’s launch with the bank’s institutional formation; both occurred during the same early independence period.

The Central Bank of Armenia also regulates commercial banks and other financial institutions. It is distinct from the National Bank of Georgia and the Central Bank of Azerbaijan, which serve neighbouring countries in the South Caucasus.