National Bank’s Dispute Resolution Commission to start operations next month

Customers of commercial banks, microbanks, registered payment service providers and microfinance organisations operating in Georgia will be able to file complaints on services or violations with the Dispute Resolution Commission of the National Bank of Georgia, with the body set to launch its operations on December 1.

The NBG said the Commission would review complaints on “unauthorised and improperly performed payment operations, violation of their execution period, incorrect deduction of the payment operation fee and other similar cases related to electronic payments” free of charge. 

The body added the Commission would consider disputes in under 90 calendar days, with deadlines extended by under 30 calendar days in complex cases.

The central bank said the Commission was being formed as an alternative mechanism for dispute resolutions in the field of payments based on commitments taken by Georgia under the Association Agreement signed with the European Union in 2014.