The National Bank of Georgia, in the framework of facilitation of financial stability, administers the supervision of Non-Bank Institutions.
The goal of the supervision and regulation of Non-Bank Institutions is to ensure a stable functioning, reliability and sustainability of non-bank sector in Georgia, prevention of potential risks and protection of creditors in this manner. In this regard, the increase of transparency of non-bank financial institutions and sophistication of corporate culture are very crucial elements as they will facilitate their institutional development and at the same time, will positively influence the awareness raising of the population on the economy of Georgia.
For the purpose of improving the supervision and regulation of non-bank institutions, a corresponding legislative base has been drafted.
According to the currently applicable legislation, the supervision of non-bank institutions includes Microfinance Organizations, Loan Issuing Entities, Currency Exchange Units and Credit Unions.