Several NGOs have released a joint statement about the developments around TBC Bank.

According to the statement, the recent developments around JSC TBC Bank raise many questions.

"We believe that the hasty decisions taken against the private property, especially a successful financial institution, raises many questions, which in turn threatens the country's economic development and financial stability.

Due to high public interest, it is important that the National Bank of Georgia explain its decision on withdrawing specific persons from the Supervisory Board of JSC TBC Bank. At the same time, relevant law enforcement agencies should provide information to the public about the investigation against JSC TBC Bank and/or its shareholders.

We think it is important to ensure that the process does not hamper the activities of TBC Bank and other important projects. At the same time, questions should be answered to eliminate any suspicions about the use of selective justice, since the joint actions of various state institutions against the financial organization creates such an impression,"- reads the statement signed by the Open Society Foundation (OSGF), Georgian Democratic Initiative (GDI), Institute for Development of Freedom of Information (ISFED) and Transparency International Georgia (TI).