The President of the National Bank of Georgia and the Representatives of Banking Sector Discussed the Issue Regarding  the Establishment of Credit Bureaus

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.