The National Bank of Georgia (NBG) will be authorized to regulate online credit organizations.
The project is to protect the consumer rights and interests, Georgian Economy Minister Dimitri Kumsishvili told reporters.
“Under the project, the national bank will regulate the sector and we believe this is a correct decision.
Regretfully, our citizens lack for financial knowledge to independently protect themselves.
Consequently, our task is to regulate all these issues so as our citizens receive the due services and at the same time, abstain from taking inappropriate risks”, the Georgian Economy Minister noted.