Former President of the National Bank, Giorgi Kadagidze, calls the statement made by the country's number 1 bank shameful.
Kadagidze says that the Georgian banking sector are involved in Western financial circles through two US banks. In his words, if these banks close their accounts, Georgia will return to the 90s in one day.
"The National Bank makes another shameful statement when it indicates that Murusidze's court's confirmation is needed to enforce the sanctions. The entire Georgian banking sector is involved in Western financial circles through two American banks. In simple language, our plastic cards, Visa and MasterCard work, online payments and transfers in foreign currency, etc are done through two American banks.
In simple language, our plastic cards, Visa and MasterCard work, online payments and transfers work in foreign currency, etc. It is enough for these two American banks to decide that Georgia is a country that does not comply with American sanctions, they will close their accounts in one day and Georgia will return to the 90s in one day. No commercial bank will dare to do this. "Commercial banks are part of the international financial system , and these shameful statements must be stopped once and for all," says Giorgi Kadagidze.
