Supervision of financial sector will be returned to Nation’s Bank of Georgia.
Dimitri Kumsishvili has submitted this draft bill upon delivery of guidance to NBG at the govt session.
“As a result of current changes we belief that supervision of the money sector should be went back to the National Loan company. Therefore, we couldn’t wait for the judgment of Constitutional Court on this topic. We will present the bank notes in its original shape to the Parliament, which problem to the supervision in the financial sector, “* said the First Vice-Premier.
The package includes 17 amendments also to restore the status quo which existed before 2016, if supervision of the economic sector has been on the list of functions of the National Bank.
In 2016, the function has been delivered to some other independent legal enterprise due to the ruling party’ersus distrust towards Giorgi Kadagidze, old president of NBG. Nevertheless, amendments were appealed to the Constitutional Court, nonetheless the decision was not created yet.
The First Deputy Prime Minister Dmitry Kumsishvili, also touched on the continued negotiations with the Worldwide Monetary Fund.
“We’lso are very active in the procedure of negotiations with the World-wide Monetary Fund. Optimistic development for this final decision is very important for them, “: said the First Vice-Premier, Kumsishvili.
To point out to, the IMF was one of the strongest opponents from the separation of Supervisory from National Traditional bank of Georgia.