The National Bank of Georgia inspected currency exchange bureaus in tourist areas of Tbilisi. Having discovered violations of the requirements set for registration and regulation of currency exchange bureaus, the NBG revoked a registration of two, and imposed monetary penalties on eleven bureaus.

 

Currency exchange bureaus located in tourist areas had failed to provide users with information about currency exchange operations. Other violations included the lack of information about  the notable exchange rate and absence of printed receipt after completion of transactions with clients. Violations of registration requirements were also reported, including the inappropriate recording/accounting of transactions and absence of the necessary technical equipment at the office.

 

The National Bank of Georgia plans to continue scheduled inspections of currency exchange bureaus in the future and will take appropriate actions to protect the rights of consumers and to ensure compliance with the requirements of the legislation.

 

The National Bank of Georgia once again calls on consumers to be vigilant during the currency exchange transaction and to verify the information on the exchange rate and service fee prior to the transaction.

 

If you think your rights have been violated, please contact us on the hotline of the National Bank of Georgia - 2 406 406 or email us: cp@nbg.gov.ge.