Kazakshtan learns about Georgia’s cash management system

Georgia is sharing with Kazakhstan its valuable experience about the country’s unique cash management system, which helps ensure the country’s financial sector operates as efficiently as possible.

The Central Bank of Kazakhstan expressed interest in learning about the Cash Centre of the National Bank of Georgia (NBG). The Bank’s Cash Centre is the only one of its kind in the Commonwealth of Independent States (CIS) region.

The Centre is fitted with modern technologies that simplify the performance of Georgia’s financial sector, and at the same time, offers the highest possible security. The Cash Centre’s cash vaults, implemented control and safety systems completely meet top international standards.

To learn more about the Cash Centre, a delegation from Kazakhstan’s Central Bank led by its deputy governor Dina Galieva is visiting Georgia. The aim of the visit was to learn more about the facility so Kazakshtan could establish a similar centre in their nation.

According to NBG, the Cash Centre controlled cash management and other values using latest technologies that controls cash circulation throughout the whole territory of Georgia.

The process of withdrawal of worn-out and counterfeit money from circulation has been improved following the introduction of the Cash Centre in 2012.

Furthermore, labour conditions of staff involved in cash operations has changed and since been adjusted to meet international standards.

While the Kazakhstani delegation is in Georgia, the Georgian side will share its experience about establishing the Cash Centre, its operations and other important aspects that will be beneficial for the country to successfully implement its own centre.

Official delegations from countries in Asia, Africa, Eastern Europe and the CIS have already visited Georgia to learn about Georgia’s successful establishment of its Cash Centre – with most parties visiting Georgia upon the recommendation of the World Bank.