“Georgia’s financial sector is attracting growing interest from investors from all over the world, spanning both traditional banking and a broad range of financial service providers,” stated Prime Minister Irakli Kobakhidze, in an address delivered at the 51st International Conference of the Banking Association for Central and Eastern Europe (BACEE).
According to Kobakhidze, Georgia’s regulatory framework for the financial sector is transparent and flexible.
“Today, we are seeing growing interest in Georgia’s financial sector from investors across the globe, from traditional banking institutions and a wide spectrum of financial service providers alike. This is reinforced by the sustained efforts of the Georgian Government and the National Bank to foster competition, encourage innovation, and advance the development of the financial ecosystem.
It is equally important to note that Georgia’s regulatory framework for the financial sector is transparent and flexible, closely aligned with international standards. It promotes innovation, lowers barriers to market entry for new players, and upholds financial stability.
To achieve these goals, the National Bank of Georgia has implemented a wide array of licensing options designed to foster innovation and broaden access to financial services. These include a microbank framework and a digital banking licence. In addition, a regulatory framework for virtual asset service providers has been established, opening new opportunities for financial technology firms and market participants,” the Prime Minister said.
Kobakhidze also noted that Georgia’s capital markets are developing in step with the banking sector.
“Alongside the growth of the banking sector, Georgia’s capital markets are also maturing. There is a rising interest in both government and corporate bonds, which is contributing to the diversification of funding sources. Taken together, these efforts are shaping a more dynamic, competitive, and forward-looking financial ecosystem, unlocking new opportunities for sustained investment growth.
Georgia remains an open economy, ready to deepen ties with our international partners in pursuit of stronger cooperation and new opportunities. I am confident that today’s discussions will offer practical pathways forward and contribute to the further strengthening of the banking sector,” the Prime Minister said.
