Central Bank of Armenia Representatives visit the National Bank of Georgia to learn about Georgian supervisory model
05 February, 2016
Delegation from the Central Bank of Armenia (the CBA) visited the National Bank of Georgia (the NBG) in order to study the reforms made in the direction of banking supervision, as well as to exchange experiences.
The CBA supervisors will learn about the main principles and the framework of the risk-based supervisory approaches implemented by the NBG.
David Babasian, risk-based supervisory framework project manager at the CBA, stated: "We are glad to visit the National Bank of Georgia. We would like to thank the NBG for sharing its interesting and important experiences with us. Georgia and Armenia often face similar challenges concerning the regulation and supervision of financial institutions, and I believe that this meeting is particularly significant in this regard. The NBG has developed quite advanced supervisory approaches and instruments. Over the recent years, the supervisory framework has evolved significantly. We would like to continue sharing experience in the future as well, which will help both parties more effectively develop risk-based supervisory systems."
It is noteworthy that the interest towards the NBG’s supervisory approaches grew particularly after the joint mission by the International Monetary Fund and the World Bank published rather positive conclusions within the frames of the Financial Sector Assessment Program (FSAP).
Otar Nadaraia, Deputy Governor of the NBG, stated: "The NBG will continue actively exporting its reforms abroad, and share its experience regarding the effective implementation of the best international practices and its own innovative approaches."