ATTENTION On November 4, 2005 the presentation of new e-systems took place in the Central Bank of RA... The Central Bank of Armenia (CBA), Ministry of Finance of Economy, United Nations Development Programme (UNDP) and Armenian Card CJSC (ArCa) presented two new electronic systems: Card-to-Card Money Transfers and Online Treasury Directory. Card-to-Card Money Transfers System has been already implemented, however the Online Treasury Directory System will become operational in December 2005.