National Bank of Georgia starts exporting reforms

National Bank of Georgia starts exporting reforms

23 June, 2014

Successful Georgian reforms will be carried out in other countries. National bank of Georgia will help the central bank of Tajikistan in implementation of payments system development project. This project will be financed by the World Bank, which also will take care of specialists’ retraining. It is remarkable that the central bank of Tajikistan has chosen NBG’s experience as the best practice.

The representatives of the central bank of Tajikistan have already visited National Bank of Georgia in order to export NBG reforms. Training program is dedicated to payment systems and covers both relevant legal environment and payment systems’ supervision issues. 

Payment system of Georgia is an important part of Georgian economic and financial infrastructure, through which financial transactions are carried out quickly, safely and reliably. This is one of the prerequisites of undisturbed and proper functioning financial and money markets. Tajik specialists will get information and professional advice on high-tech settlement systems, and will learn about advantages of payment and securities systems implementation and of RTGS. 

The representatives of NBG payment systems, financial markets, finance and accounting, IT and legal departments are involved in the process of reforms export. Many countries expressed desire to acquire information on and share experience of NBG’s recently introduced reforms. To that end official delegations of different countries from Asia, Africa, Eastern Europe and CIS have already visited NBG, and most of them visited Georgia on the recommendation of World Bank.