National Bank of Georgia recommends contactless payments due to coronavirus
Also, the bank announced that its Money Museum located in Kvareli, eastern Georgia will be closed from tomorrow until April 1. Photo: Visa.
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The National Bank of Georgia recommends that consumers use contactless pay methods instead of paying by cash to prevent the spread of the new coronavirus.
The bank urges citizens of the country to fulfil the recommendations of the World Health Organization (WHO) and the National Center for Disease Control and Public Health related to using cash and to wash their hands after touching banknotes and coins.
It also urges people to use distant banking services instead of going to the banks.
The National Bank of Georgia urges companies to sanitise payment terminals.
The National Bank of Georgia says that money which will enter the bank will be taken out of circulation for 14 days.
The bank will sell collector banknotes and coins by using the website www.moneymuseum.nbg.gov.ge.
Also, the bank announced that its Money Museum located in Kvareli, eastern Georgia will be closed from tomorrow until April 1.
The National Bank of Georgia (NBG) has sold $20 million at foreign exchange auction to control the national currency’s changing value against the US dollar.
What support can business expect?
The government of Georgia has presented an anti-crisis plan for Georgian businesses in order to ease the burden caused by the coronavirus crisis. The government responded to the demand of the hotels, restaurants, tourist agencies and tour operators in Georgia and decided to postpone payment of property and income tax by four months.
Georgian commercial banks, particularly TBC Bank, Bank of Georgia and Liberty Bank will accept postponed payment on loans for three months. The banks say the decision has been made to prevent people gathering in bank branches and thus to prevent the spread of the new coronavirus.
Georgia takes the first place globally in terms of the percentage of contactless payments in domestic transactions followed by Australia, Czech Republic, Hungary and Cyprus, announced Visa earlier today.
Starting today Georgia will close borders with neighbouring Armenia and Azerbaijan for ten days to prevent the spread of COVID-19. Georgian Prime Minister Giorgi Gakharia discussed the temporary suspension of movement with Armenian PM Nikol Pashinyan and Azerbaijan PM Ali Asadov in telephone conversations yesterday.
The government of Georgia recommends cafes, restaurants and bars to temporarily restrict “direct service to citizens” and to offer takeout and delivery services instead in order to prevent the spread of the coronavirus.
1 USD costs 3.0118 GEL
Against the backdrop of the outbreak of the coronavirus and the global oil crisis, the Georgian national currency, the lari, has hit a record low against the US dollar after falling to 3.0118.
Small and medium-size business owners (SMEs) who have leased municipality-owned areas for their business activities have been made exempt from lease payments for three months to mitigate the negative impact of COVID-19 on the business, Mayor of Tbilisi, Kakha Kaladze stated today.
Liberty Bank has announced it will transfer 100 million GEL in pensions in advance to citizens of Georgia who are in a high risk group for the coronavirus, announces the Director General of Liberty Bank Vasil Khodeli.
Starting today currency exchange booths and other financial organisations have temporarily stopped functioning today in Georgia with an aim towards reducing the spread of the coronavirus in the country, announces the National Bank of Georgia (NBG).
The National Bank of Georgia is monitoring banknotes given bills may also contribute to the spread of the new coronavirus. The money which enters the bank is kept for 14 days separately. Also, new banknotes are being supplied to commercial banks which will be put into circulation for the first time.
TBC Bank has received a license from the Central Bank of Uzbekistan to launch operations in the country starting June 2020.
Visa cardholders in Georgia will be able to use their expired cards for payments without interruptions during the coronavirus pandemic, announces Visa.
Banks operating in Georgia are ending the first quarter of 2020 with negative net profit as they have created reserves for handling the negative expectations caused by the coronavirus pandemic.
A fourteenth individual died in Georgia from coronavirus-related complications last night. The condition of the 68-year-old man, who suffered from several underlying illnesses including diabetes, had been assessed by doctors as critical.