According to the bill on National Bank of Georgia (NBG), the list of documents to be submitted to NBG for obtaining a banking license is broadened:
- More detailed information must be submitted about the bank owner;
- The bank must submit business model and risks management documents approved by a supervisory board in advance;
- More detailed information must be submitted about representatives of managing structures;
The bill also specifies that the structure of group of persons, owners and management and operation/environment of license-seekers must ensure an implementation of efficient supervision on both individual and considerable level without threatening stability and healthy operation of a bank or/and financial sector.
The bill also calls for simplifying procedures for licensing a foreign commercial bank.