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Georgia Shares Cash Management Experience With Austria

Georgia Shares Cash Management Experience With Austria

A second country is wanting to learn more about Georgia’s unique cash management system, which helps the country’s financial sector operate as effectively as possible.

After Moldova, now Austria wanted to gain valuable insight into Georgia’s Cash Centre. Austrian National Bank representatives have visited Georgia’s National Bank (NBG) Cash Centre, which is the only one in the Commonwealth of Independent States (CIS) region, to learn how the country’s cash management system was developed.

NBG’s executive director George Melashvili showed the Austrian visitors around the specialised Cash Centre building today and talked about its unique capabilities. Back in April a Moldavian delegation visited the Cash Centre of NBG for the same purpose before it attempted to implement a similar centre in its own country.

The Centre is equipped with modern technologies that meet international standards that simplify the performance of Georgia’s financial sector and at the same time, offers the highest possible security. The Cash Centre’s cash vaults, implemented controlled and safety systems that meet international standards.

“I think it is very important that the NBG’s Cash Centre has become very interesting for such organisations like Austria’s National Bank,” said Melashvili. “In general interest in the Cash Centre has been increasing gradually because of its uniqueness. It is the only Cash Centre in the Post-Soviet countries to meet the international standards,” he said.

According to the NBG, the Cash Centre carries out cash and other values management using latest technologies, which enables the control of the cash circulation over the whole territory of Georgia through the system. Secondly, the process of withdrawal of worn-out and counterfeit money from circulation has been improved following the introduction of the Cash Centre in 2012. Furthermore, labour conditions of staff involved in cash operations has changed and since been adjusted to meet international standards.