National Bank of Georgia receives invitation to Basel Committee advisory group

Business Materials 23 July 2014 15:26 (UTC +04:00)

Tbilisi, Georgia, July 23

By Nana Kirtzkhalia - Trend:

The National Bank of Georgia received an invitation to join the advisory group of the Basel Committee.

"The participation in this group is an important step towards the improvement of banking supervision standards and informing other countries about the experience," the National Bank of Georgia told Trend on July 22.

After a conclusion on the practice of banking supervision was successfully published as part of the financial stability assessment in Georgia, the appropriateness of the National Bank's involvement in such forums has significantly increased, the national bank said.

The Advisory Group is an important forum for discussing the development of new initiatives of the countries-non-members of the Basel Committee on Banking Supervision. Currently, the group includes 25 countries, namely, Austria, Bulgaria, Chile, China, the Czech Republic, Holland, Hungary, Japan, Mexico, Norway and others.