The Governor of the National Bank of Georgia, Natia Turnava, participated in the annual symposium held in Basel, Switzerland, dedicated to the 35th anniversary of the Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements (BIS).

The symposium brought together prominent central bank governors, including Andrew Bailey, Governor of the Bank of England; Michele Bullock, Governor of the Reserve Bank of Australia; Klaas Knot, President of De Nederlandsche Bank; Rhee Chang-yong, Governor of the Bank of Korea; as well as the General Manager of the BIS, the First Deputy Governor of the Bank of France, and former CPMI Chairs, along with other central banking leaders from around the world.

Participants discussed the complexity of payment systems and the identification of risk areas within financial systems. The symposium provided a platform for industry leaders to exchange insights and share their experiences and challenges in managing payment infrastructures.

According to Natia Turnava, the symposium offered an excellent opportunity to learn from the experience of international peers regarding payment systems, while also presenting the National Bank of Georgia’s approaches to identifying and managing risk areas within financial systems.

Operating under the auspices of the Bank for International Settlements (BIS), the Committee on Payments and Market Infrastructures (CPMI) monitors developments in financial market infrastructures and formulates recommendations aimed at strengthening the global financial system. CPMI serves as the key international standard-setting body promoting the safety and efficiency of payment, clearing, and settlement systems.

The Committee plays a vital role in fostering cooperation among central banks and ensuring the resilience of international payment systems.