Ararat Bank Support Project

In 2009, this CAD $750 000 project aimed to strengthen the capacity of corporate governance of Armenia’s Ararat Bank and to align Internal Audit practices with international standards and best practices. This project also reinforced the organizational structure, business development process; risk management and internal systems and processes. Training affected all banking staff including Executive Board, credit department, risk department, HR and marketing department as well. A study tour was also organised with the National Bank of Canada.