06.Mar .2020 18:15

National Bank - Decision to simplify banking regulations has been made

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The administrative burden on lending will be reduced and more flexibility in risk management will be introduced. The number of income thresholds set for the loan service ratio will be reduced, – it is mentioned in the decision made by Financial Stability Committee of the National Bank of Georgia.

As the National Bank told Georgian First Channel the legal evaluation of the document is underway, and that the decision will come into force afterwards.

The NBG also notes that the basic principle of regulation is unchanged and the lender should not impose a financial obligation, which represents a significant financial difficulty for the consumer.