01/05/2025
09:49

President of the National Bank of Georgia, Natia Turnava, has criticized the use of sanctions as a form of political pressure, calling it unjustified and counterproductive. Speaking on the program Gamis Kurieri, Turnava expressed concern over the lack of transparency and due process in the application of such measures by both local and foreign political actors.
“It is very unfortunate that both local and foreign politicians are using the sanctions mechanism as a tool of political pressure, without any justification being clear to us, without transparency, and without any possibility of any arbitration,” she stated.
Turnava strongly defended the integrity of Georgia’s banking system, describing it as one of the most “orderly,” including institutions like Cartu Bank, which has recently come under scrutiny. “Our banking system protects everything from beginning to end. We observe it closely, and there are no formal issues—no one has been reprimanded,” she said.
She further warned that politicizing global financial infrastructure—particularly referencing the SWIFT payment system—could weaken international trust in these mechanisms. “Frequent mention of SWIFT as a tool of political pressure undermines its credibility and encourages other countries to seek alternatives,” Turnava said.
Addressing recent rumors, she also clarified that neither VISA nor MasterCard is planning to leave Georgia. “This was either deliberate speculation or a miscommunication. Both companies are present in Georgia, have long-standing partnerships with our banks, and will continue to maintain a share of the market,” she affirmed.
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