NBG Governor addresses international consumer protection conference

The Governor of the National Bank of Georgia (NBG), Natia Turnava, has taken part in the high-level International Consumer Protection and Enforcement Network (ICPEN) conference, titled ‘Building Trust in the Digital Age’, organised by the Georgian Competition and Consumer Agency.

According to Turnava, protecting consumer rights remains one of the National Bank’s key priorities. Financially resilient and protected consumers, in turn, form a crucial foundation for the financial sector’s health and stability.

“In recent years, both the standard of consumer rights protection and the level of financial literacy within the financial sector have increased. This is evidenced, among other things, by the trend in consumer enquiries submitted to the National Bank,” noted the NBG Governor.

Turnava highlighted the challenges posed by rapid digital transformation, emphasising that developing additional protective mechanisms for vulnerable groups in society is particularly crucial.

The NBG Governor highlighted the critical role of financial education, stating that raising consumer awareness regarding financial risks is core to the bank’s consumer protection mandate.

According to Turnava, the National Bank is actively working in the realm of financial literacy. To this end, a second edition of the National Strategy for Financial Education has been drafted, while the educational platform ‘FinEdu’ has been operational for over five years, aiming to provide citizens with clear, objective, and non-commercial financial information in a simple, accessible format.

“Our approach is grounded in one primary principle: the consumer needs protection before making a decision. If a consumer properly evaluates risk, it reduces both potential personal loss and systemic risks,” stated Natia Turnava.

Notably, the Georgian Competition and Consumer Agency is serving as the presidency of the International Consumer Protection and Enforcement Network (ICPEN) for 2026–2027. The three-day conference, designed to strengthen consumer trust in the digital age, protect rights, and share international experience regarding current challenges, will focus on pressing issues in consumer rights to establish unified approaches and standards. Nearly 100 delegates from 55 countries attended the event, including heads of consumer protection authorities worldwide.

Representatives of the Georgian Government, Parliament, Tbilisi City Hall, international organisations, and competition and consumer agencies from various nations attended the opening ceremony.