Natia Turnava, Acting Governor of the National Bank of Georgia, held a working meeting with leaders of the banking sector and the Business Association on Wednesday.
Representatives of commercial banks and business associations and the Acting Governor of the National Bank of Georgia discussed the current situation in the banking sector and future plans, that will provide an additional incentive to the economy and the citizens by offering increased access to finance.
The meeting reiterated that the Georgian financial system has been, still is and will remain committed to enforcing international sanctions.
"The banking sector and the NBG, as always, are enjoying a very close cooperation: we have a common vision and a shared goal. Both the banking sector and the NBG are committed to our international commitments. We have very exciting future development plans. We discuss issues put forward by the banks on how to give additional momentum to the economy. Our common goal is for the economy to continue to grow rapidly and for the banks to be able to invest more resources. These are quite remarkable initiatives that will be introduced in the banking sector - obviously, under our supervision and by considering all risks", said Natia Turnava, Acting Governor of the NBG.
"A very interesting meeting was held with the regulator, where we discussed the details of the regulation, the changes in which will promote economic activity in the country. We welcome this kind of working agenda and are optimistic about the process", said Archil Gachechiladze, General Director of Bank of Georgia.
"We reviewed about six projects at the workshop held with the NBG team regarding banking regulations. We think that in the course of the next two weeks we will agree on certain novelties, which we will be pleased to present to the market later", said Giorgi Tkhelidze, Deputy General Director of TBC Bank.
"The Georgian Business Association brings together 75% of the country's economy, with almost all sectors of the economy being represented. Clearly, we have frequent communication with the National Bank of Georgia, our regulator. This serves to strengthen and develop the business and economy of our country. Our task is to further strengthen the banking and financial system, already strong and exceptional in the region. We are convinced that our views and opinions expressed at the meeting with the NBG will serve two purposes: first, a positive impact on the reduction of interest rates, a very big problem for business, and second, further increase in the liquidity, i.e. more money and resources made available to the market. In general, the development of the economy is a prerequisite for the well-being of each of us. If we want to have a strong country, we must have a strong economy. A strong economy should be fueled by business. This is our ultimate goal to achieve together", said Soso Pkhakadze, President of the Business Association.
