Georgian parliament to deprive National Bank of supervisory function

Georgian parliament to deprive National Bank of supervisory function

81 members of the Georgian Parliament have voted affirmatively and 12 members were against the veto of President Giorgi Margvelashvili regarding the National Bank. According to the law, the National Bank doesn't deal with banking supervision. 

At the same time, Sputnik Georgia reports that representatives of the United National Movement and the Free Democrats abstained from voting and noted that they will appeal against the decision of the deputies at the level of the Constitutional Court.

In their opinion, the elimination of the supervisory function of the National Bank is due to political reasons.

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