The National Bank of Georgia’s Governor Natia Turnava and Vice-Governor Nino Jeladze met with an International Monetary Fund (IMF) mission from the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) to discuss principles, supervisory importance, and implementation challenges of consolidated supervision for banking groups. The central bank is seeking IMF technical assistance to develop a regulatory framework for consolidated supervision. The mission, represented by Serdar Guner (IMF Resident Advisor on Banking Supervision) and Linda Van Goor (IMF Expert), reviewed the current state of Georgia’s banking sector and international best practices for banking group consolidation. Discussions covered Basel Committee on Banking Supervision and European Union standards and approaches as reference points for further development of the National Bank of Georgia’s regulatory framework, alongside meetings with staff from the Supervisory Policy Department and other units. The National Bank of Georgia noted it has focused on consolidated supervision since 2017, with increased relevance as Georgian banks expand and diversify cross-border activities.
National Bank of Georgia 2025-09-05
National Bank of Georgia engages IMF CCAMTAC mission on consolidated supervision rules for banking groups
The National Bank of Georgia is collaborating with the International Monetary Fund (IMF) to enhance its regulatory framework for consolidated supervision of banking groups. Discussions with the IMF mission focused on international best practices, including Basel Committee and European Union standards, to address supervisory challenges as Georgian banks expand cross-border activities. The central bank has prioritized consolidated supervision since 2017.