BAKU, Azerbaijan, Jan. 11
By Tamilla Mammadova – Trend:
The National Bank of Georgia (NBG), which regulates the Georgian Pension Agency, has become a governing member of the International Organization of Pensions Supervisors (IOPS), Trend reports via the NBG.
"Being a member of IOPS is a step forward and this will give the NBG the opportunity to learn from the experience accumulated by other IOPS member countries in the supervision of pension funds,” reads the NBG statement.
The IOPS was founded in 2004 by the Organization for Economic Co-operation and Development (OECD) and the International Network of Pension Regulators and Supervisors (INPRS).
"The major goal of the IOPS is to improve the quality and effectiveness of the supervision of private pension systems throughout the world, thereby enhancing their development and operational efficiency, and allowing for the provision of a secure source of retirement income in as many countries as possible,” says the IOPS.
The organization cooperates with other international organizations also involved in pension supervision policy development such as the OECD, the World Bank, the International Social Security Association (ISSA,) the International Monetary Fund (IMF) and the International Association of Insurance Supervisors (IAIS).
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