supervision authority over commercial banks

Georgia’s National Bank refuses to fund new Finance Supervisory Agency

By | January 8th, 2016|Categories: News|Tags: , |

Tamaz Mechiauri, head of the finance budget committee, believes that the agency’s demand is reasonable but that legal experts should decide. (Interpressnews.) TBILISI, DFWatch–The newly created Finance Supervisory Agency is still not operational because the National Bank refuses to fund it. The agency has now asked parliament to provide direct financing. The agency was split from the National Bank […]

Constitutional Court suspends new bank supervision agency

By | October 13th, 2015|Categories: Economy|Tags: |

The National Bank will still supervise private banks, for the time being. (National Bank.) TBILISI, DFWatch–Georgia’s Constitutional Court has suspended the work of a newly created agency that was to take over the supervision of private banks; previously the responsibility of the National Bank. The ruling was made during a lawsuit against the parliament […]

President signs into law controversial bank supervision bill

By | September 11th, 2015|Categories: Politics|Tags: |

Had no choice: Even if I had refused to sign, the speaker would have signed the bill, Margvelashvili explained. (Interpressnews.) TBILISI, DFWatch–The Georgian president Thursday signed a bill into law that will take away responsibility for supervising private banks from the National Bank and hand it to a new agency controlled by the government. President Giorgi Margvelashvili, the […]

Comment about the president and knitting pins rattles parliament

By | September 3rd, 2015|Categories: News, Politics|Tags: , |

Undated photo of Giorgi Margvelashvili knitting socks, published in 2013, before he became president. TBILISI, DFWatch–A statement by a leading parliamentarian about the president and knitting pins has caused puzzlement in Georgia. A spokesman for the president’s administration called it insulting and unethical. “I blame Ivanishvili for taking the knitting pins out of the hands of the NGO and Soros guys (“ენჯეოელი სოროსელი”) […]

Georgian president vetoes National Bank bill

By | July 31st, 2015|Categories: Politics|Tags: , |

President Giorgi Margvelashvili. (Interpressnews.) TBILISI, DFWatch–Georgian President Giorgi Margvelashvili on Friday vetoed a controversial National Bank bill which would mean that the government takes charge of the supervision of private banks. The president made his reasons for blocking the bill, […]

Georgian parliament approves controversial bank bill

By | June 29th, 2015|Categories: Politics|Tags: |

(Interpressnews.) TBILISI, DFWatch–Parliament in Georgia approved a bill on Sunday which will relieve the National Bank of responsibility for supervising private banks and instead transfer such authority to a new agency. The vote was preliminary, as the bill must go through […]

Judicial committee joins president in resisting National Bank bill

By | June 26th, 2015|Categories: Politics|Tags: , |

Committee head Vakhtang Khmaladze. (Interpressnews.) TBILISI, DFWatch–The Georgian parliament’s judiciary committee agree with the president about a proposed bill to strip away the bank supervisory function from the National Bank, claiming that it violates the constitution. Committee chair Vakhtang Khmaladze said on Friday […]

Georgian president to veto National Bank bill

By | June 25th, 2015|Categories: Politics|Tags: , |

President Giorgi Margvelashvili. (Interpressnews.) TBILISI, DFWatch–For at least the second time, the situation between the Georgian parliament and the president has become tense. Now the president plans to veto an initiative concerning the president of the National Bank. Since the president and non-governmental […]

Georgian president to veto bank supervision bill

By | June 10th, 2015|Categories: Politics|Tags: |

Giorgi Margvelashvili. (Interpressnews.) TBILISI, DFWatch–The Georgian president is preparing to veto a bill to form an independent supervisory agency to oversee the banking system, because it contradicts an association agreement which Georgia signed with the EU last year. Recently, the government […]

Georgia strips bank supervision authority from the National Bank

By | May 23rd, 2015|Categories: Politics|Tags: , , |

Roman Gotsiridze from Economic Development Center. (Interpressnews.) TBILISI, DFWatch–The government in Georgia has decided to strip the National Bank of responsibility for supervising banks and transfer this mechanism to the prime minister. The decision follows months of criticism by the government against the head of the National […]