International Cooperation
National Bank of Georgia actively cooperates with various international organizations, supervisory institutions of different countries, and international supervisory groups, to develop the banking sector and improve the supervisory standards. NBG is a member of various supervisory groups, such as the Group of Banking Supervisors from Central and Eastern Europe (BSCEE), and the Basel Consultative Group (BCG). International cooperation, membership of supervisory groups, and memoranda of understanding (MoU) with supervisory bodies of various countries significantly facilitate the information exchange and approximation to international best practices.
Being founded in 1991 for an indefinite period, Group of Banking Supervisors from Central and Eastern Europe (BSCEE) is an open organization that brings together 25 Member Institutions from 24 countries (mainly central and eastern european countries), dedicated to facilitate cooperation as well as fast and effective communication among all Central and Eastern European banking supervisory authorities. The BSCEE is a high-level forum with the stated clear goals, specifically, to encourage and help research, training and educational programs and in general, all activities related to the functions of its members, promote and maintain close cooperation and communication among its members, facilitate a better performance of their supervisory functions, exchange of experiences and know-how and help with the integration to the European banking supervisory system.
The structure of the BSCEE comprises of the Members’ Conference, the Chairman and the Secretariat. Being the supreme body of the Group, each member country has one vote in the Members’ Conference. The Chairman of the Group is a key representative of the BSCEE Group while the Secretariat, along with other funtions, is a technical-administrative support of the BSCEE. According to the rules of the group, the chair country of the group is elected annually from its members.
The National Bank of Georgia became a member of the Group in 2013 and has been actively involved in its work since then. Georgia first chaired the Group in 2018, and then again was elected as one at the BSCEE Annual Conference on May 27-28, 2021.
It is notable that in 2022, in addition to performing representative and organizational functions, Georgia will be the host country to 2022 BSCEE Group Conference.
The Basel Consultative Group (BCG) provides a forum for deepening the Committee's engagement with supervisors around the world on banking supervisory issues. It facilitates broad supervisory dialogue with non-member countries on new Committee initiatives early in the process by gathering senior representatives from various countries, international institutions and regional groups of banking supervisors that are not members of the Committee. BCG membership comprises central banks and supervisory authorities from 28 countries, as well as supervisory groups, international agencies and other bodies.