The National Bank responds to the accusation spread today by a certain part of non-governmental organizations, according to which, together with the Georgian authorities, the NBG is accused of covering up the persons sanctioned by the USA.
In its statement, the National Bank of Georgia declares with full responsibility that the said accusation is absolutely baseless and aims to discredit not only the Central Bank of the country, but also the entire banking system and mislead the public.
"It is not clear what gives the non-governmental sector the basis to make such a statement, while until now there have been no concrete cases of violation of the sanctions enforcement process in the financial system of Georgia.
Therefore, accusing the National Bank of Georgia of facilitating the violation of sanctions is categorically unacceptable. Moreover, we never, even at the review level, allow the circumvention of sanctions. The financial system of Georgia meticulously fulfills the requirements set by international partners. Despite a number of challenges, the sanctions enforcement process is as transparent and efficient as possible. Any changes implemented in the regulations are not tailored to the interests of specific individuals, but serve to ensure full compliance of the sanctions enforcement process with local legislation and international requirements," the National Bank said in its statement.
In addition, according to NBG, the National Bank is in constant communication with international partners.
"Georgia's financial system has never been, nor will it be in the future, a place to avoid sanctions, which is what our international partners believe too.
In the future, the National Bank of Georgia and the financial system will continue to take all the necessary measures to strengthen the financial stability of the country," the statement reads.
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