To be selected as a beneficiary of the CMS Programme, corporate issuers should apply via this website. As part of the process, issuers are encouraged to independently mandate an arranger/underwriter.

The CMS programme operates with an open architecture and is open to any arranger/underwriter licensed by the Central Bank of Armenia. The selection criteria will be applied impartially, without regard to the arranger, considering the applications solely on the merit of the issuer and the proposed instrument.

While Ameria Management Advisory is an implementing partner for the programme, this does not provide the group or their clients any advantage in benefitting from the programme. Safeguards have been put in place under the supervision of the EBRD to ensure free and fair competition among arrangers/underwriters and their clients.

Any company licensed by the Central Bank of Armenia to provide relevant services may act as an arranger/underwriter. This may include commercial banks or investment companies operating under the appropriate licenses.

For a list of licensed entities, please refer to the Central Bank of Armenia’s official registers:

Licensed Commercial Banks: https://old.cba.am/en/sitepages/fscfobanks.aspx

Licensed Investment Companies: https://old.cba.am/en/sitepages/fscfoinvestmentcompanies.aspx