29.Jul .2021 10:30

Ready To Dicuss All Issues That Will Increase Competition In The Finanncial Sector - Irakli Kovzanadze

Ready To Dicuss All Issues That Will Increase Competition In The Finanncial Sector - Irakli Kovzanadze
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We Are Ready To Dicuss All Issues That Will Help Increase Competition In The Finanncial Sector - Irakli Kovzanadze

Irakli Kovzanadze, Chairman of the Budget and Finance Committee, met with Alexander Dzneladze, President of the Georgian Banking Association, and Giorgi Bagrationi, Executive Director to discuss the current situation, achievements and challenges in the banking and financial spheres.

Kovzanadze noted that the Committee will always support any initiative that will help ensure the sustainability of the financial sector, increase liquidity, maintain competition, protect consumer rights and introduce new banking and financial products.

"Representatives of any commercial bank, insurance firm, microfinance organization, or other financial institution are welcome to attend the Committee. We are prepared to discuss all issues in a working fashion that will contribute to the field's further growth and recovery”, - Irakli Kovzanadze said, highlighting the importance in which the Committee played a leading role and which contributed to the sustainability of the financial sector, including the deposit insurance system, pension reform, the introduction of a commercial banks resolution framework, the Law on Investment Funds, and the separation of non-core assets.

The President of the Banking Association thanked the Chairman Committee for the cooperation.

The parties agreed that similar meetings will continue on a regular basis in the future.