NBG removes Nana Keinishvili from process of formulating and adopting Council’s decisions

The National Bank of Georgia (NBG) Council removed Nana Keinishvili from the process of formulating and adopting the Council’s decisions.

According to the statement released by the NBG, in making the decision, the Council was guided by the relevant articles of the Organic Law on the National Bank of Georgia and the Code on Administrative Offences.

“Pending the conclusion of the investigation launched by the General Prosecutor’s Office of Georgia regarding Nana Keinishvili and the establishment of the objective truth, and in light of the high reputational standards of the National Bank Board, the Board decided that Nana Keinishvili should not participate in the process of formulating and adopting Board decisions. This decision was adopted unanimously.

In making the decision, the Council was guided by the relevant articles of the Organic Law on the National Bank of Georgia and the Code on Administrative Offences related to the removal of interested stakeholders from administrative bodies: In particular, an official who has a personal interest or other circumstances that would influence his or her decision may not participate in administrative proceedings.

The Prosecutor’s Office of Georgia has launched an investigation into the case of board member of the National Bank of Georgia (NBG) Nana Keinishvili based on the statements of the executives of Bitexchange LLC sent by the National Bank on charges of unlawful participation in commercial activity by a senior official under Article 337 of the Criminal Code of Georgia.

Parliament approved Keinishvili’s appointment to the governing board in September 2023, following her nomination by then-President Salome Zourabichvili.