One of the major objectives of the National Bank of Georgia is to ensure a healthy financial environment in the country. To implement the objective the National Bank exercises effective monitoring of commercial banks. Commensurate with the legislation, bank monitoring is undertaken through a distance as well as onsite inspection. The frequency of the inspection is defined by the risk proneness of a bank as well as based on the newly emerged circumstances.

Recently several major incidents have taken place in connection to Bank Kartu, namely: 

the Chairman of the Supervisory Board, the General Director and Vice-Directors have resigned.

Moreover,  the incident taking place on 18th of October in the Bank Kartu on which a criminal law suit was launched in accordance with the Clause 194 (money laundering of especially big scale) of Criminal Code of Georgia calls for a detailed inspection.

Consequently, the National Bank, as a regulator of the banking sector and a guarantee of financial stability of the country has taken a decision to assess via detailed inspection the situation in the Bank Kartu in order to get answers to all questions and develop further monitoring strategy for the bank based on the results.