NBG President Speaks Against Russian Banks in Abkhazia

In a letter sent to his Russian counterpart, President of Georgian National Bank Roman Gotsiridze expressed concern regarding, as he put it, the ?illegal? operation of Russian banks in Georgia?s breakaway region of Abkhazia. 
 
?It is alarming that a number of Russian commercial banks incorporate Abkhaz banks that are in contradiction to the relevant decisions approved by the CIS heads of states, as well as to the Russian legislation,? the letter of President of Georgian National Bank reads.
 
Roman Gotsiridze also stressed that the ?uncontrolled and illegal banking regime [in Abkhazia], in which Russian banks are also participating, creates an effective ground for money laundering.?

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