Acting National Bank Governor: Georgia exploring opportunities for regional finance cooperation

Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday told the Central Asian Regional Economic Cooperation Programme meeting in the capital city of Tbilisi, the country was “continuously strengthening” its financial technology sector and exploring opportunities for regional cooperation in the area.

Turnava said hosting the event in Tbilisi had confirmed the “strong partnership” between the country and the Asian Development Bank and highlighted the importance of financial technology for regional cooperation.

In comments at the meeting, she highlighted Georgia’s “vital role in connecting the East and the West” through trade, as well as in “promoting knowledge, strengthening cultural, economic, and technological ties”. 

Today, Georgia continues to be an important axis for trade, energy, digital, transport, financial, and logistics services in the Middle Corridor [a route connecting Central Asia and Europe]”, she said.

The Acting Governor also mentioned the Government was working on ensuring compliance with the European Union's payment infrastructure, regulatory framework and banking legislation systems to “sustain this function”. 

She said fintech development in CAREC countries was a “common task” and a “common good”.

Cooperation between fintech regulators and stakeholders can significantly contribute to integrating financial systems, interconnecting regional payment and settlement systems that further support trade, and improve global financial integrity”, Turnava said.

The official also highlighted “significant measures” taken by the central bank in recent years to become a “leading institution” in the wider region with “advanced” technologies and a “robust” financial system.