According to information from the National Bank of Georgia, from 2022 to 2024, the National Bank inspected 461 currency exchange points and revoked the registration of over 100 entities.
According to the National Bank, as of today, there are 513 registered currency exchange points operating across the country, including branches, at 721 locations.
“From 2022 to 2024, the National Bank of Georgia inspected 461 currency exchange points for violations of the legislation on facilitating the prevention of money laundering and terrorism financing, as well as the rules for registration and regulation of currency exchange points. The total amount of fines imposed was 3,474,100 GEL [approximately 3.47 million GEL]. During the same period, the National Bank revoked the registration of over 100 currency exchange points.
It should be noted that according to the ‘Rules for Registration and Regulation of Currency Exchange Points,’ the National Bank is entitled to refuse re-registration of a point if the application is submitted by an authorized person of a point whose registration was revoked under the same decree and less than two years have passed since the revocation.
As of today, there are 513 registered currency exchange points operating across the country, including branches, at 721 locations,” the statement reads.
National Bank: From 2022-2024, the National Bank inspected 461 currency exchange points and revoked the registration of over 100 entities
