National Bank of Georgia Governor Natia Turnava held a meeting with Fu Huang, President of China’s Cross-Border Interbank Payment System (CIPS).
According to the NBG press office, the parties discussed cooperation opportunities, as well as issues related to facilitating access to the CIPS global network for the country’s financial institutions.
Natia Turnava noted that payment and settlement systems in Georgia are continuously developing, and cooperation with CIPS would significantly simplify payments, transfers, and transactions between the two countries, while also helping to strengthen Georgia’s role as a transit corridor.
For his part, CIPS President noted that the growing connection between Georgia and China is reflected in the increase in cross-border payment volumes. “The integration of payment systems like CIPS will significantly facilitate economic cooperation.”
