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Tag Archives: NBG

Koba Gvenetadze: Competition Law should not Apply to Financial Sector

Koba Gvenetadze

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 …

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National Bank Buys 132.5 million USD at Currency Auction YTD

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

Starting January 2018 National Bank of Georgia (NBG) bought 132.5 million USD at currency auctions. This year the NBG purchased foreign currency 12 times, 8 times in 2017. The NBG has not sold USD over the past 2 years. In 2016, a total of 24 currency auctions were held and …

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The National Bank Of Georgia Became The Associate Member of IOSCO

NBG

For the National Bank of Georgia membership of the International Organization for Securities Commissions (IOSCO) is a significant step forward in terms of capital market development. International Organisation of Securities Commissions is an association of organisations that regulate the world’s securities and futures markets. Members are typically primary securities and/or …

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Finance Sector Regulations Postponed for 2019

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to BM.Ge information, the finance sector regulations will take effect on January 1, 2019. The regulations were to come into force on November 1, 2018. After consultations with the finance sector, the National Bank of Georgia (NBG) postponed the enforcement date for November 15, however, according to the last …

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National Bank Approves Rules for Prospectus of Company Shares and Bonds

NBG

National Bank of Georgia (NBG) continues reforming the capital market with the aim to develop the securities market. On October 12, 2018 as part of the supervisory framework development process, the NBG approved the rule for prospectus of company shares and bonds. Objective of this rule is to upgrade transparency …

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