An interpellation hearing of the Acting Governor of the NBG was held at the plenary session of the Parliament.

Seven MPs directed questions to Natia Turnava regarding Liberty Bank and its loans to pensioners.

The Acting Governor of the National Bank of Georgia thanked the MPs for their interest in the problem of pension loans and noted that the social status and living conditions of pensioners are of high importance to the NBG.

Natia Turnava stated, "As the NBG, we are continuously addressing these issues. The working group established for this purpose has enabled us to refine our approach and clarify the information we provide. Our focus during this period is ensuring that pensioners, as borrowers, are better informed and that their rights are maximally protected."

According to her, following consultations with Prime Minister Irakli Kobakhidze, an important decision was made with the involvement of the NBG. The bank has expressed its readiness to reduce the interest rate on 151 thousand loans.

"This is a truly significant step that will not only enhance the social well-being of a significant portion of pensioners but also improve their financial stability and disposable income. This, in turn, benefits the bank as its loyal clients become financially stronger," Natia Turnava explained.

The Acting Governor of the National Bank of Georgia also mentioned the establishment of principles for responsible lending.

She emphasized the importance of adhering to these principles, both in the process of deferring or restructuring obligations and in properly informing consumers.

"Since, based on the information available to us, consumers are not informed in advance about the changes in conditions resulting from using the grace period, and it is difficult for them to make an informed decision, commercial banks must ensure that payments are received according to the schedule valid before the grace period, upon customer request. In case an option to cover a part of the deferred loan in advance is offered, the advance fee should be zero," Natia Turnava added.

During her speech in Parliament, Natia Turnava also emphasized that the NBG is enhancing its supervision of market behavior study and monitoring. In this regard, thematic research on the practice of remote offering and sale of financial products by commercial banks was conducted. The results, particularly concerning the vulnerable segment, may serve as the basis for supervisory actions to protect consumer rights.

Natia Turnava reiterated in her speech that loans or credits secured by state pension funds, including the so-called "overdrafts," cannot be advertised without the individual consent of pensioners. This change will specifically affect pensioners whose income is solely based on state pension and/or other state social benefits.