17.Mar .2022 16:00

The NBG Responds To Disinformation On Transactions Being Banned From European Countries To Georgia

The NBG Responds To Disinformation On Transactions Being Banned From European Countries To Georgia
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The National Bank of Georgia (NBG) responds to the disinformation about transactions being banned from European countries to Georgia.

"In recent days, there has been disinformation about transactions being banned from European countries to Georgia. We address the public that this is a lie and an attempt to mislead the citizens.

Given the increased risks in the region, both overseas and Georgian banks evaluate the acceptability of devoting resources to determining the compliance of specific transactions with the current sanctions. Commercial banks use this assessment and their policies and procedures to make decisions about specific transactions. An example of this is the information published on the Internet about one of the Swedish commercial banks who terminated transactions for individuals in Georgia. We hereby note that a number of other Swedish banks, as well as European and US financial institutions, continue to make transfers the regular way, as per usual.

The National Bank of Georgia, as the regulator of the financial sector, complies with all standards and international resolutions, which eliminates the execution of any type of sanctioned operation across the Georgian banking sector", - the statement reads.