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Moldova learns about Georgia’s “unique” cash management system

Moldova Learns About Georgia’s “unique” Cash Management System

Georgia is sharing its valuable experience with neighbour Moldova about the country’s unique cash management system, which helps ensure the country’s financial sector operates as efficiently as possible.

The National Bank of Moldova expressed its interest in the Cash Centre of the National Bank of Georgia (NBG), which is only one in the Commonwealth of Independent States (CIS) region. 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 new Cash Centre’s cash vaults, implemented controla and safety systems completely meet international standards. To learn more about the Cash Centre, a delegation from the National Bank of Moldova, led by its Deputy Governor Aureliu Cincilei, are visiting Georgia on April 23 and 24. The aim of the visit was to learn more about the facility so Moldova could establish a similar centre in their nation.

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. While the Moldovan delegation is in Georgia, the Georgian side will share its experience about establishing the Cash Centre, its operations and other important aspects that will be beneficial for Moldova to successfully implement its own centre.

NBG’s executive director George Melashvili showed the Moldovan visitors around the specialised Cash Centre building today and talked about its unique capabilities. Cooperation between the National Banks of Georgia and Moldova is carried out within the framework of a Memorandum of Bilateral Cooperation, formed in 2012 that aimed to promote development of bilateral relations between the financial sectors of the two countries in the banking and financial fields, as well as to benefit from the best practices implemented in both institutions. Official delegations of Asia, Africa, Eastern Europe and CIS countries have visited Georgia to learn about Georgia’s successful establishment of its Cash Centre – with most parties visiting Georgia upon the recommendation of the World Bank.