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Constitutional Court Suspended Functioning of the Financial Monitoring Agency

The Constitutional Court has accepted a complaint in relation to the National Bank and the Financial Monitoring Agency has suspended functioning according to the decision made by the court.

The complaint has been filed  by  the United National Movement (UNM)  and Free Democrats parties. The parliamentary opposition expressed its dissatisfaction over the amendments made in the law on the National Bank of Georgia. According to the decision, a financial monitoring agency was created in order to fulfill the function the National Bank completed before.

According to the amendment, Georgia’s President does not take part in the agency’s council election and the opposition parties consider it is against Georgia’s Constitution.