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Vusal Verdiyev, Finca Bank: Level of Support and Supervision is Quite Impressive in Georgia

Vusal Verdiyev, a FINCA Bank Chief Executive Officer:

“Georgia’s current monetary and supervisory policy should be highly appraised. It should be noted the level of support and supervision is quite impressive and Georgia is the region’s leader in this respect.

It is difficult to say which model is better: co-existence of the financial supervision agency with the NBG or their separation. Both models work in the region and in the western countries. The main thing is that the specific reality of this or that country should be taken into account and the most optimal variant should be chosen for Georgia.

The most important thing is that large-scale discussions should be held on the issue with the participation of all interested parties. The process must involve bankers and legislators, public figures. The issue is very delicate and complicated, but this does not signify the discussions should involve only macroeconomists and professional financiers.

Structural organization is an important issue, but the more important thing is to determine the task, purpose and goal. The main question is: for What?! This question may seem to be a rhetorical one, but it is a real question.