Vice-Governor of the National Bank of Georgia (NBG), Ekaterine Galdava, participated in an event held in Malaysia, hosted as part of the international Central Banking Meetings. The overarching theme of the two-day conference was "Collective Strength: Resilience and Growth in a Changing World."

The Central Banking Meetings forum in Kuala Lumpur brought together central bankers and high-ranking officials from Japan, Malaysia, India, Turkey, Romania, Azerbaijan, New Zealand, Switzerland, South Korea, Singapore, Saudi Arabia, China, and various other nations.

The event aimed to facilitate the exchange of practical experiences and deepen cooperation among central banking leaders. This collaborative effort is expected to support the development of joint strategies, the strengthening of regional integration, and the implementation of innovative solutions.

Delivering her remarks during the panel discussions, Ekaterine Galdava highlighted the reforms implemented by the National Bank of Georgia and underscored the critical importance of regional payment integration. She noted that a successful, interoperable payment ecosystem is built upon a modern domestic payment infrastructure, unified technical standards, and effective regional coordination.

"The National Bank of Georgia is actively working to upgrade its Real-Time Gross Settlement (RTGS) system. The modernized system will possess the technical capability to operate 24/7 and will support multi-currency transfers. Furthermore, the implementation of an Instant Payment System (IPS) is scheduled for the end of 2026, enabling consumers to execute transactions in mere seconds, at any time of the day. Both systems will be based on the ISO 20022 messaging standard, which will significantly enhance the interoperability of payment systems on both domestic and international levels," noted Ekaterine Galdava.

The NBG Vice-Governor also addressed Georgia's strategic location and the significance of the Middle Corridor, emphasizing the country's potential to emerge as a regional financial hub connecting Europe and Asia.

"Georgia's strategic location provides us with a unique opportunity to become the region's financial hub between Europe and Asia. Real-time payments and the integration of payment systems will foster trade growth, lower transaction costs, and strengthen regional economic ties," she stated.

During a subsequent panel discussion at the Central Banking Meetings, Ekaterine Galdava spoke on the adoption of financial innovations in Georgia. She underscored that the National Bank of Georgia actively fosters financial innovation through both regulatory frameworks and technological advancement.

She pointed out that the NBG has already implemented regulatory frameworks for digital banks and Virtual Asset Service Providers (VASPs), established regulatory and technical sandboxes, and developed a comprehensive FinTech strategy to ensure the secure integration of artificial intelligence within the financial sector.

Alexander Ergeshidze, Head of the Specialized Risk Department at the NBG, also participated in a panel discussion as part of the international conference. This session addressed cyber threats within the financial sector and strategies for mitigating them. Additionally, the panel explored practical cyber risk management strategies and the essential role central banks play in this domain.