Natia Turnava, Acting Governor of the National Bank of Georgia, participated in the 94th annual meeting of the Bank for International Settlements (BIS) in Basel.

The meeting brought together governors of member central banks of the BIS and other central banks worldwide. The primary focus was on the experiences of markets in transition and developing economies, particularly regarding the expansion of cross-border payments. Participants discussed the complexities of payment systems and the challenges of identifying risk zones within financial systems. Industry leaders shared their experiences and specific challenges they face.

Christine Lagarde, President of the European Central Bank, delivered a keynote speech at the forum

During the meeting, central bank leaders visited the BIS Innovation Hub, where they reviewed steps taken to mitigate risks associated with the use of artificial intelligence in financial services.

The high-level event underscored the vital role of the BIS in stimulating the financial markets of developing economies.

Natia Turnava emphasized that the BIS annual meetings, which bring together central bank managers, offer an excellent opportunity for mutual experience-sharing.

Founded in 1930, the Bank for International Settlements is headquartered in Basel, Switzerland. The institution collaborates with central banks and other international financial organizations to achieve financial and monetary stability, serving exclusively these entities.