The President of the National Bank of Georgia and the Representatives of Banking Sector Discussed the Issue Regarding the Establishment of Credit Bureaus
14 July, 2005
Mr. Roman Gotsiridze, the President of the National Bank of Georgia met with the representatives of banking sector and international organizations. At the meeting the issue regarding the establishment of credit bureaus in Georgia was discussed.
One such bureau with the participation of three Georgian banks already exists. Through the bureau Georgian banks shall receive information on credit history of potential clients. Works on drawing up of draft laws on credit bureaus in banking circles are underway. Several international organizations are involved in this process. According to the draft law initiators the establishment of similar bureaus in Georgia will promote the increase of healthy competition among the banks and transparency of their activity.
Mr. Roman Gotsiridze, the President of the National Bank of Georgia, offered the participators of the meeting to establish a working group. The experts of the National Bank of Georgia will also take part in the working of the group. According to the President of the National Bank of Georgia the idea of establishing credit bureaus is generally acceptable, however, information should be provided step-by-step through these bureaus. Moreover, first of all, information should deal with the banking system.