Acting President of the National Bank of Georgia, Natia Turnava, took part in the 94th annual meeting of the Bank for International Settlements in Basel.

According to the Strategic Communications Department of the National Bank of Georgia, the managers of the member central banks of the Bank for International Settlements (BIS) and other central banks participated in the annual meeting. The main focus of the meeting was the experience of the markets of countries with transition economies and developing economies regarding the expansion of cross-border payments. The central banks' officials had the opportunity to discuss the complexities of payment systems and the issues of identifying the risk zones in the financial systems. Industry leaders shared their experiences and specific challenges they face.

The President of the European Central Bank, Christine Lagarde, gave a speech at the forum.

Within the framework of the annual meeting, the leaders of the central banks visited the innovative hub of the Bank for International Settlements. The steps taken to reduce the risks caused by the use of the artificial intelligence in financial services were reviewed.

At the high-level event, attention was paid to the importance of the role of the Bank for International Settlements in stimulating the financial markets of the countries with developing economies.

As Natia Turnava noted, the annual BIS meetings, which bring together the managers of the central banks, are the best opportunity to share their experiences with each other.

The Bank for International Settlements was founded in 1930. Its head office is located in Basel, Switzerland. This institution cooperates with central banks and other international financial organizations to achieve financial and monetary stability and serves only them.