Georgian Banks Respond to NBG Decision on Partskhaladze

According to Radio Liberty, the two largest commercial banks, TBC and Bank of Georgia have affirmed their commitment to adhere to the international sanctions imposed by the European Union, the United Kingdom, and the United States. The banks’ comments come following the National Bank’s controversial decision which would shield Otar Partskhaladze, USA-sanctioned former Prosecutor-General of Georgia from being targeted by sanctions.

“We comply and will continue to comply with US, EU and UK sanctions requirements,” the Bank of Georgia said. TBC Bank, on its part, has reportedly confirmed to Radio Liberty that they will not grant any exceptions for individuals under international sanctions imposed by the USA, the European Union, and the United Kingdom, irrespective of the decision made by the National Bank.

UPDATE: Liberty Bank, ProCredit Bank, Tera Bank, and Basisbank have also announced their commitment to comply with international sanctions.

The National Bank of Georgia yesterday issued a statement alerting the public to the amendment to its regulation, arguing that “the Georgian citizens are protected by the Constitution” and the NBG, “being guided by the Constitution of Georgia and the presumption of innocence, considers that the Georgian citizen can not be subjected to international sanctions, in the absence of the conviction by the Georgian court.”

This post is also available in: ქართული (Georgian) Русский (Russian)


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