National Bank of Georgia (NBG) is developing a new bill. NBG President Koba Gvenetadze told Business Contract that the bill will be discussed jointly with Parliament and representatives of various industries.
NBG vice president Murtaz Kikoria told Business Contract that NBG plans to regulate bank holding companies – GROUPS ABOVE BANKS.
“National Bank regulates commercial banks. Process of stripping commercial banks of noncore assets has been completed and no commercial bank own companies. We want to regulate and supervise the so-called bank holding companies. This signifies we will supervise over groups above commercial banks. We must have information on processes in these groups”, Kikoria noted.