Georgia, Tbilisi, Dec. 17, Trend N. Kirtskhalia /
The National Bank of Georgia held a presentation of a new tax system, "Mutual settlement of accounts in real time" and "Mutual settlement of accounts on securities."
According to the National Bank's President Giorgi Kadagidze, who opened the event, a grant agreement was signed in May last year with the United States Agency for International Development (USAID), based on which the National Bank has received funding for the introducing of several systems.
"We have moved to a more high-tech model of management. Operations management has now become much faster, and risks have been reduced, which makes our money more securely protected. In addition, from today any transaction involving securities trading will be carried out in electronic form within a few minutes," Kadagidze said.
The presentation was attended by the U.S. ambassador to Georgia, John Bass; vice president of the Corporation "Montran," Charles Walsh, representatives of the Banking Association, and commercial banks operating in Georgia.
The National Bank started implementation of this project in 2007 with the support of USAID. The project is carried out by a well-known American company "Montran," which is specializing in the implementation of modern tax systems.