Memorandum of Understanding Signed Between National Bank of Georgia and Elevand

A new memorandum of understanding (MoU) has been signed between the National Bank of Georgia and Elevand, aimed at fostering collaboration in the financial technology sector. The agreement was formalized by Natia Turnava, Acting President of the National Bank of Georgia, and Pat Patel, Executive Director of Elevand, during the 57th Annual Meeting of the Asian Development Bank (ADB).

The MoU is designed to set a framework for future cooperation that will enhance the development and facilitate effective knowledge and experience sharing within the fintech industry. It recognizes Georgia’s strategic potential in the Middle Corridor and outlines mutual efforts to support Georgia as a regional fintech hub.

Under this agreement, both parties commit to supporting initiatives that promote the Georgian fintech ecosystem. Planned activities include the organization of both face-to-face and virtual seminars and trainings to enhance the capabilities of existing and prospective fintech companies in Georgia.

Additionally, the MoU includes provisions for hosting roundtable discussions and forums. These events will bring together regulators, policymakers, industry leaders, and other stakeholders to discuss collaborative opportunities in fintech, tackle challenges, and create a supportive environment for the sector's growth.

Elevand, established by the Monetary Authority of Singapore, is a non-profit organization dedicated to promoting international cooperation in the field of innovative technologies. It works through partnerships with government bodies, businesses, educational institutions, and civil society leaders.