The National Bank of Georgia held a working meeting with the Ministry of Finance’s Revenue Service Customs Department, the Investors Council, commercial banks and the Georgian Bankers’ Association to brief the financial sector on simplified customs procedures under the New Computerized Transit System (NCTS). The Customs Department presentation covered the NCTS changes and included a Q&A with participants. Under the NCTS, mandatory Georgian guarantees will apply from May 15, 2025 for cargo exiting Georgia and from June 1, 2025 for cargo transiting through Georgia. The meeting included senior National Bank of Georgia officials from the Financial Stability, Banking Supervision, and Money Laundering, Inspection and Supervision departments. The National Bank of Georgia indicated that similar informational meetings are planned to be held regularly.
National Bank of Georgia 2025-05-06
National Bank of Georgia convenes Customs Department and banks on New Computerized Transit System and upcoming mandatory Georgian guarantees
The National Bank of Georgia conducted a meeting with key financial stakeholders to discuss simplified customs procedures under the New Computerized Transit System (NCTS). The Customs Department outlined NCTS changes, including mandatory Georgian guarantees for cargo exiting and transiting Georgia starting May 15 and June 1, 2025, respectively. Regular informational meetings are planned.