Georgian National Bank official delivers presentation on country’s fintech open policy strategy at Financial Forum in China

Varlam Ebanoidze, the Head of the Financial and Supervisory Technology Development Department at the National Bank of Georgia, gave a presentation on the open policy strategy of the country’s financial technology at the international Financial Street Forum 2024: Fintech is Bridging the Digital Divide in China.

As a lead speaker at the Forum, Ebanoidze discussed the fintech strategy’s role in further accelerating the “positive trend” in the real economy of the countries of the Middle Corridor, a logistics route connecting Central Asia and China to Europe via the South Caucasus through Georgia, the NBG said on Tuesday.

“Georgia aims to encourage innovation in the financial sector through supervisory frameworks and proactive policy. The main task is to promote technological innovation, which can be achieved by early introduction of new technologies and positioning Georgia as a fintech hub in the Middle Corridor region”, Ebanoidze noted.

The Forum's main goal was to determine the role of fintech in unifying the divided digital world and research the impact of technology on the growth of financial inclusion.

Ebanoidze participated in the Forum at the invitation of the largest Chinese payment platform Alipay. The event was attended by the presidents of Alipay and Ant–Financial, a multinational technology company specialising in e-commerce, retail, Internet and technology, as well as the heads of China's Central Bank and major banks.