The National Bank of Georgia has responded to Mamuka Khazaradze’s accusations, who said that the NBG was blackmailing him. According to the central bank, it’s incorrect to assess the legal actions of the regulator body as “blackmailing”.
"The use of relevant sanctions against violation revealed in a commercial bank is a direct responsibility and liability of the National Bank of Georgia, which supervises the banking sector.
The sanctions of the National Bank are defined by the relevant legislation. The list includes the right of the regulator to require the suspension of the signature and / or dismissal of the bank administrators in case of necessity.
Consequently, it is incorrect to estimate the legal actions of the regulator body as “blackmailing”, " the National Bank of Georgia said in a statement on Monday.
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