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Koba Gvenetadze

Koba Gvenetadze: Competition Law should not Apply to Financial Sector

The competition law should not be applied to the financial sector. The sector is regulated by National Bank of Georgia (NBG). Consequently, no additional regulations are required, the NBG President Koba Gvenetadze said.

At the same time, Gvenetadze rejected the spread information as if the insurance supervision services had been re-subjugated to the NBG.
We remind you that the insurance sector calls for applying the competition law to the financial sector too. They state that commercial banks carry out an expansion onto the insurance market.