Representatives of the Foreign, Commonwealth and Development Office (FCDO) and the Office of Financial Sanctions Implementation (OFSI) of the HM Treasury from the United Kingdom paid an official visit to the National Bank of Georgia.

Within the framework of the visit, a working meeting was held between the representatives of FCDO and OFSI and the employees of the Money Laundering Inspection and Supervision Department of the NBG.

The representatives of the Financial Sanctions Implementation Office shared their experience with the employees of the National Bank on the implementation and supervision of the implementation of sanctions and the introduced control mechanisms.

It should be noted that the representatives of the UK Financial Conduct Authority (FCA) participated remotely in the meeting. During the meeting, the activities of the authority and the challenges faced by it were discussed. Also, they talked about the experience in the field of regulation and supervision of virtual asset service providers.

The employees of the Money Laundering Inspection and Supervision Department of the National Bank of Georgia talked about the activities performed in terms of international sanctions enforcement and risk management. The guests were introduced to the carried out reforms and the achieved results.

The parties agreed to continue cooperating and experience sharing. The visit of the delegation of the Foreign, Commonwealth and Development Office and the Financial Sanctions Implementation Office to Georgia was carried out with the involvement and support of the UK Embassy in Georgia.