Banking
Posted: 1 month ago

National Bank Temporarily Halts Currency Exchange Booths

The National Bank of Georgia (NBG) has released a special statement:

“With the aim to curb the coronavirus spread scales, as decided by the Georgian Government, starting today, lending organizations, currency exchange booths, credit unions, payment service providers, independent registrars of securities, assets management companies, central depositors, specialized depositors, stock exchanges, non-state pension scheme founders, credit information bureau are banned to continue operation at offices.

The mentioned segments are authorized to continue operation only in an online format.

At the same time, commercial banks remain authorized to continue operation in both office and online formats, as well as tax system operators, , microfinance organizations, payments service providers and agents that supply payment services through ATMs and POS terminals, payment machines. Furthermore, suppliers of services necessary for the operation of payment machines, ATMs and POS terminals are also entitled to continue valuable operation.

Despite these restrictions, the population is able to receive financial services in the continuous regime, including cash supply will be continued without problems, as well as any types of payments, a supply of loan and deposit services and currency exchange services (at commercial banks and microfinance organizations).

We urge the population to use internet payment services efficiently amid the virus pandemic.