Posted: 2 years ago

National Bank Introduces Distant Supervision Portal

The Legislative Herald has published the decree signed by Kobe Gvenetadze, president of the National Bank of Georgia (NBG) that determines the distant supervision norms.

Under the document, the NBG will launch the website, where both commercial banks and other organizations subjected to the NBG are entitled to pass registration (microfinance organizations, currency exchange booths, credit unions and other bodies).

“Key function of the portal is to exchange of information/documents/ reports (including confidential reports) between the NBG and the registered users and to ensure communication. The portal may be also used for publishing legal acts and recommendatory documents and news.

The portal is accessible for the authorized bodies of the NBG and users on their individual profiles”, the decree reads.

We remind you that several days ago, the NBG extended the timeframe for submitting financial reports for a period of 45 days, because of COVID-19 pandemic.