The National Bank does not want a normal, full-fledged stock exchange to appear in the country

The National Bank does not want a normal, full-fledged stock exchange to appear in the country

access_time2020-01-16 08:30:54

The leader of the opposition Lelo movement, the founder of TBC Bank Mamuka Khazaradze took the initiative to set up a stock exchange in the former parliament building in Kutaisi.

The building of the Kutaisi parliament has not functioned for almost 3 years when the parliament relocated  back in Tbilisi.  There were attempts to adapt a building for a new use, but to no avail.

According to an expert in the exchange business Vakhtang Khomizurashvili, the main problem in  the financial market is not the lack of buildings, but the fact that  it is still regulated by the National Bank which does not want a normal, full-fledged stock exchange to appear in the country.

 “The stock market is a competitor to the banking sector, and until the reform is carried out, it does not matter in which building the stock exchange will be located,” he says. 

 In Vakhtang Khomizurashvili’s words, the country does not have a stock market, there are only four  brokerage firms that are included in the banking structure.

 


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