PMCG (Policy and Management Consulting Group) responds to the recent developments around the National Bank of Georgia (NBG).
"We would like to respond to the recent developments around the National Bank of Georgia (NBG). NBG must maintain its independence, free from political influence and turbulence. It is crucial for Georgia to uphold its commitments to international agreements on matters such as money laundering, counterterrorism measures (AML/CFT) and other global standards. Failing to do so could jeopardize Georgia's financial sector and its interests. To achieve economic development and financial stability, Georgia needs its banks to be integrated into the international financial system.
We count on all state institutions to support NBG in overcoming the management crisis, and, within their competence, to ensure its independence and compliance with international standards, thus safeguarding NBG's effective operation in accordance with international agreements, Constitution and the legislation of Georgia", - PMCG's statment reads.
