Posted: 3 years ago

Aleksandre Dzneladze: Banking Sector Met Coronavirus Challenges Prepared

The Georgian banking sector has met the coronavirus outbreak challenges prepared. As pat of the virus prevention measures, commercial banks have immediately moved to the distance management mode and offered remote services to their clients.

The Georgian banking sector has taken timely and adequate decisions amid the current challenges, Aleksandre Dzneladze, president of the Banking Association of Georgia, told Business Partner TV program.

„The banking sector has promptly ensured the continuous business process and safety of its employees and announced a 3-month grace period on loans. There are two key factors in this regard – 1) one single obligatory requirement was not to impose payments on clients in this period and second, to abstain from visiting public places”, Dzneladze said.

It is very important that all commercial banks have announced online installment loans thanks to special technical and technological platforms. They are ready to provide these installment loans without posing threats to the finance system and to create maximum comfort to borrowers, he noted.

Providing distance services is of crucial importance, since cash turnover is one of the key channels of the virus spread, Dzneladze told Business Partner.

“The country still maintain cash turnover and the consumers should maximally use electronic payments and the banking sector actively offers these services to its clients”, Dzneladze explained.

The Banking Association’s President also urged citizens to widely use electronic services.

“Today we see how necessary electronic payments are and we should use these services, even more so, all commercial banks have introduced online banking services and other distance services”, Dzneladze noted.

Simultaneously, active disinfection works are being carried out at commercial banks and payments Terminals. Commercial banks are adequately reacting to recommendations to protect consumers and staff, which are provided with facemasks, gloves and disinfection solutions, Aleksandre Dzneladze pointed out.