National Bank of Georgia, Korean telecommunications institute sign deal to strengthen payments infrastructure in Georgia
The National Bank of Georgia and the Korea Financial Telecommunications and Clearings Institute on Saturday signed a memorandum for promoting cooperation to strengthen the payments infrastructure in Georgia. Photo: NBG
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The National Bank of Georgia and the Korea Financial Telecommunications and Clearings Institute on Saturday signed a memorandum for promoting cooperation to strengthen the payments infrastructure in Georgia.
The Bank said the parties would collaborate to enhance the domestic infrastructure for fast payments, open banking and electronic Know-Your-Customer system and establish a specialised organisation for retail payments.
They will also work together on implementing “further projects based on long-term mutual cooperation”.
The document was signed by Natia Turnava, the Acting Governor of the National Bank and Jong Seok Park, the CEO of the Korean Institution.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Saturday discussed cooperation in meetings with Daniel Zelikow, the Vice Chair of the JP Morgan Development Finance Institution and Luc Dresse, Alternate Executive Director of the International Monetary Fund.
Natia Turnava, the Acting Governor of the National Bank of Georgia and Pat Patel, the Executive Director of not-for-profit organisation Elevandi, signed a Memorandum of Understanding to deepen cooperation, within the scope of the 57th annual meeting of the Asian Development Bank in Tbilisi.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Monday said the energy sector’s portfolio in banks was characterised by “stable and low” credit risks and its substantial share in loan portfolios contributed to “financial stability and reduced cyclicality”.