Roman Gotsiridze, president of the National Bank of Georgia, met with the Armenian Bankers’ Delegation, visiting Georgia at the invitation of the Georgian Bankers’ Association. The Armenian Bankers expressed interest in the activities of the TIFEX. The National Bank is the founder of the TIFEX together with 12 commercial banks. The National Bank sets the official exchange rate of lari against other currencies at the trading sessions on the basis of demand and supply. Armenia is forming a similar structure now. President stated that the commission fee at the TIFEX on trading of the foreign currency, currently being 0.1% of the amount of the deal, may reduce 4 times. Both sellers and buyers of the foreign exchange have to pay the commission, making the total of 0.2% of the amount of the deal, and increasing the expenses of the banks participating in the deals. President said that this decision will increase the foreign exchange trade volume between the banks. The President expressed interest in the deposit insurance scheme in Armenia, being in operation since 2004.  Like Georgia, Armenia was assisted by KFW in preparing the relevant legislation. The guests said that the volume of the population’s deposits in the banks increased considerably after the introduction of the scheme. At the end of the meeting, the parties discussed the prospects of the future cooperation between the Georgian and Armenian commercial banks.