Koba Gvenetadze Presented Informative Video Regarding Financial Pyramid To The Audience

Koba Gvenetadze Presented Informative Video Regarding Financial Pyramid To The Audience

04 October, 2017

On October 4th 2017, in "Rooms Hotel" the Governor of the National Bank of Georgia, Koba Gvenetadze presented informative and educational video and brochure to the audience aiming increase the awareness on the risks of investing in financial pyramids. Representatives of legislative and executive government, international organizations, non-governmental sectors and media attended the presentation.

The National Bank of Georgia, with the support of "Savings Banks Foundation for International Cooperation" (SBFIC) developed educational video and brochure for the society, helping them comprehend various issues: what is the financial pyramid, what are the risks of unreasonable investments, how one can identify high-risks, pyramid schemes and how to avoid the financial hazards.

Financial risks, savings and managing personal finances are the priorities within the frameworks of the national strategy of financial
literacy, developed by the National Bank of Georgia. Accordingly, the educational material is interesting, simple and animated and aim to warn the consumers, while investing their savings, additionally to take into consideration the financial and legislative risks related to unreasonable investments.

Within the frameworks of the meeting, the Governor of the National Bank of Georgia highlighted the importance of reasonable savings, fraud schemes, financial risks and increasing financial literacy in the society.

"Financial literacy and protection of consumer rights are the priorities for the National Bank of Georgia. To increase the awareness of reasonable savings, we are planning to support discussions for the consumers. We want to deliver the information to our society, which will give them the opportunity to evaluate the risks and opportunities of investing money, ask as many questions as possible, to have critical and responsible reactions throughout financial decision-making processes. In the long-term perspective, we hope to help the society to achieve financial well-being and stability. The video, which we present today regarding the financial pyramids serves the sole purpose and aim. Additionally, I would like to underline, that the upcoming year 2018 will be devoted to financial literacy for the National Bank of Georgia, we will have even more intense educational and informative activities. Also, I hope, that financial sector, as well as legislative and executive offices and media representatives will support the development of the national strategy" - stated the Governor of the National Bank of Georgia, Koba Gvenetadze.