,,This year, the National Bank of Georgia has taken an important step on the road to European integration and became the first in the region to submit an application for joining the Single Euro Payments Area (SEPA),” – the Acting NBG President Natia Turnava said during her speech at the event dedicated to the Banker's Day.
According to Natia Turnava, this ambitious application of the Central Bank of Georgia is another step forward for greater integration of the Georgian financial system and Georgian population with the European Union and the European financial system.
The National Bank of Georgia officially submitted Georgia's application for joining the Single Euro Payments Area (SEPA) on September 20, 2022.
The goal of the SEPA project is to harmonize electronic payments in Euro across Europe and create a unified and standardized system of payments. It removes technical, legal and market barriers between participating countries. Joining the Single Euro Payments Area enables consumers and businesses to make electronic payments in Euro under the same basic conditions, with the same rights and responsibilities, regardless of which Member State they are located in.
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