Anelik Bank, based in Armenia, is the first bank in the country to join Bankers' Association for Finance and Trade (BAFT).

BAFT is a global group based on international transaction banking.

"It is very important for us to be among the international financial institutions involved with BAFT," Sergey Virabyan of the bank's management board, said in a press release. "The cooperation of Anelik Bank with the members of the leading association of such a high level will enable the sharing of knowledge, ideas and solutions, and we hope that the Bank will be able to successfully use the best experience of foreign partners in its activities."

BAFT has more than 240 financial groups and institutions as its members.

“BAFT is proud to welcome Anelik Bank as a member and we look forward to working together as leaders in world of trade finance and transaction banking,” Tod Burwell, president and CEO of BAFT, said in the release.