Georgian central bank shares experience with operational risks, internal procedures with Kyrgyz counterparts

The Centralised Risk Management Department of the National Bank of Georgia has shared its experience in operational risks, incidents, business continuity management and internal processes and procedures with their counterparts from the National Bank of Kyrgyzstan in a three-day webinar, the NBG said on Tuesday.

Kubanychbek Bokontayev, the Governor of the Kyrgyz central bank, commended the “professionalism and experience” of the Georgian team during the discussion.

We appreciate the support of the National Bank of Georgia. Deep knowledge and extensive experience of NBG employees will significantly contribute to the development and improvement of the operational risk management of the National Bank of Kyrgyzstan”, he said.

Mariam Manjgaladze, the Head of the Department, highlighted joint efforts between the NBG and its counterparts in other countries, saying cooperation provided “valuable insights” and shared best practices in operational risk management.

We often exchange our experiences with other central banks regarding operational risk management. The three-day webinar organised by the Department generated significant interest among our Kyrgyz colleagues”, she said.

The NBG also said the Department featured in technical assistance missions of the International Monetary Fund that assessed operational risks and provided recommendations to central banks.