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Tag Archives: NBG

We are Agreed that Financial Supervisory Should Remain in NBG

We are Agreed that Financial Supervisory Should Remain in NBG

The Vice Premier declares, that decision on remaining of Financial Supervisory in NBG is adopted. Dimitri Kumsishvili, minister of Economy has declared about it with TV-company “Maestro”. “I regard, that the issue is decided and now, we all are agreed that that Financial Supervisory should remain in NBG”, – the …

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Commersant Exclusive: National Bank Fines Microfinance Organizations

The financial monitoring service of the National Bank of Georgia have inspected microfinance organizations and fined several of them. The Commersant has obtained this exclusive information from a reliable source saying that several microfinance organizations will have to pay 100 000 GEL fines after the inspection. According to the source, …

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Georgia C.bank Says Bought $20 mln at Currency Auction on Tuesday

On May 17, the National Bank of Georgia (NBG) bought 20 million USD. The averaged weighed exchange rate made up $1/2.1872. The Georgian national currency has strengthened by 5.8% after the NBG, following a long break, started replenishing the foreign currency reserves. As part of the first intervention (17.03.16) the …

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Basel Committee On Banking Supervision Once Again Invited The NBG To Develop New International Supervisory Approaches

Basel Committee On Banking Supervision Once Again Invited The NBG To Develop New International Supervisory Approaches

The National Bank of Georgia (NBG), as a member of Basel Consultative Group (BCG), continues working within the Basel Core Committee’s Supervision and Implementation Group. This group works on implementing advanced approaches in international supervisory policy, and the principles that it develops constitute international standards. The National Bank of Georgia, …

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Results Of The Currency Auction for NBG

Results Of The Currency Auction for NBG

On May 10, 2016, the National Bank of Georgia purchased 20 000 000 USD on its Foreign Exchange Auction. The weighted average exchange rate was 2.2132. It should be noted that National Bank of Georgia had purchased such big amount of foreign currency (USD) 2 times in last week. Totally the amount made up …

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National Bank’s International Reserves Grow by 29 million USD

Reserves

In March the official international reserves of the national bank of Georgia (NBG) increased by 29.4 million USD as compared to February 2016. In the reporting period, the NBG increased reserves by 15 million USD at currency auctions. Transactions carried out at the treasury have also replenished the reserves. In …

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Koba Gvenetadze: Loans must not Worsen Borrower’s Economic Conditions

Koba Gvenetadze

The country should pay more attention to online loans system, the national bank’s president Koba Gvenetadze noted. The Baltic Countries have developed a good experience in terms of online loan regulations and currently, we are studying this experience. It is upon the Authorities to determine which instance will regulate the …

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IMF Appoints Georgia’s NBG President As Acting Manager

Koba Gvenetadze Elected as National Bank Board Member

Koba Gvenetadze, the President of the National Bank of Georgia (NBG), has been appointed as an acting manager of the International Monetary Fund (IMF) from Georgia. Koba Gvenetadze has replaced Giorgi Kadagidze on the mentioned position. The corresponding decision passed by the Government of Georgia on appointment of Koba Gvenetadze …

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