Davit Gogorishvili, CEO of Iberia Business Group declares that credit must be accessible for customers. According to him, the existing regulations should be more liberal in this direction.
Gogorishvili says that the National Bank’s regulations, which restricted individuals’ access on the loans, have hit car sales.
"Car is a luxury item, so economic stability and credit accessibility are important for us. I mean regulations for the financial institutions, they should be more liberal in order customers to have access to credit. I understand that there were a number of reasons why this decision was made, but all this had a negative impact on our sector, "- said David Gogorishvili.
However, the National Bank of Georgia has tightened lending to individuals in 2018.
