Business Association President says National Bank regulations will bring negative result
Business Association President says National Bank regulations will bring negative result

Regulation of the National Bank will have negative consequences, – President of Business Association Giorgi Chirakadze told reporters on Friday before the meeting with the chairman of the Finance and Budget Committee of the Parliament.

One of the main topics of the meeting is the new regulations of the National Bank. Giorgi Chirakadze hopes that the National Bank will change it attitude.

“We had a meeting with the Vice President of the National Bank a few days ago and we discussed our opinions. Of course, we understand the regulator who tries to make decisions related to the problems that can be created in this sector. We introduced our objections to the National Bank. We are going to work closely with the National Bank on the issues that we think are wrong. Close communication between the business and the National Bank is of utmost importance.

It is very important to have close communication between the business and the national bank and we hope that after this conversation we will be able to make the National Bank to change certain attitudes in order to get good consequences,” Chirakadze said.

The new regulations of the National Bank lay down the restrictions on the loans and require full analysis of customers’ creditworthiness.