Protection of the rights of consumers of the financial sector is one of the important tasks of the NBG. NBG takes care to improve current practices in this area, based on the best international experience and challenges in the sector. This calls for altered regulatory requirements for financial institutions.

To raise the standard of protecting consumer rights, the National Bank of Georgia has developed draft amendments to the Regulation on the Protection of Consumer Rights When They Obtain Services of Financial Institutions, which is based on the requirements of the European Union Directive and responds to the challenges in the sector. The draft includes an important issue such as a preemptive right for contracts.

The draft is published on the NBG website to receive stakeholder feedback. Suggestions, comments and questions can be sent to cp@nbg.gov.ge  before September 15, 2023. As stakeholder opinions are reconciled and discussions are completed, the draft will be finalized and approved.