Newsletter III: Initiatives and legislative amendments for promoting business activities in Georgia

March 2017
Legal News
Financial sector supervision
On March 22, 2017 an important amendment was made to the organic law of Georgia “On the National Bank of Georgia”, in accordance to which the NBG is restored as an entity, responsible for the financial sector oversight.  Related changes have been introduced into various sector-specific laws, including:
  •   The Law of Georgia on Payment Systems and Payment Services; 
  •   The Law of Georgia on the Securities Market;
  •   The Law of Georgia on Commercial Bank Activities;
  •   The Law of Georgia on Non-Bank Depository Institutions;
  •   The Law of Georgia on Microfinance Organizations;
  •   The Law of Georgia on Investment Funds.

    Full version found here: 16

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