Natia Turnava, Acting Governor of the National Bank of Georgia, and Pat Patel, Executive Director of Elevandi, signed a Memorandum of Understanding (MoU) within the framework of the 57th annual meeting of the Asian Development Bank (ADB). The MoU aims to deepen cooperation between the National Bank of Georgia and Elevandi in the field of financial technology (fintech).

The memorandum expresses the parties' readiness for future cooperation to establish a basis for supporting development, facilitating the effective sharing of knowledge and experience in the fintech industry.

Recognizing Georgia's potential in the Middle Corridor, the parties are discussing the possibility of mutual cooperation to support Georgia as a regional fintech hub. Elevandi agrees to support initiatives aimed at promoting the Georgian fintech ecosystem for this purpose.

 

The agreement includes plans for joint organization of face-to-face and virtual seminars and trainings to increase awareness and knowledge of existing and prospective fintech companies in Georgia.

 

Under the MoU, the parties commit to organizing roundtable discussions and forums to bring together regulators, policymakers, industry leaders, and other stakeholders to explore opportunities for collaboration in the fintech field, address challenges, and foster an enabling environment for fintech development.

Elevandi is a non-profit organization established by the Monetary Authority of Singapore, which promotes international cooperation in innovative technologies and their use through engaging with government, business, academia, and civil society leaders.