**Georgian Financial System Not to Be Disconnected from SWIFT, Says National Bank**
The National Bank of Georgia (NBG) has spoken out against the possibility of disconnecting the country’s financial system from the international messaging network Society for Worldwide Interbank Financial Telecommunication (SWIFT). In a statement released on [current date], the NBG emphasized that there is no basis for such an action.
According to the National Bank, Georgia’s banking and financial sector is strictly compliant with both local legislation and international sanctions regimes. This compliance is regularly monitored through on-site and remote supervision, and has been positively assessed by the country’s international partners. The NBG also highlighted that the country’s anti-money laundering regime is of a high standard, as confirmed by assessments from the Council of Europe’s expert committee (MONEYVAL).
**A System of Transparency and Trust**
The National Bank pointed out that Georgia’s financial system is “exceptionally transparent”, which has led to growing trust from investors. This transparency is seen as a major factor in the country’s ability to comply with international standards, including those related to anti-money laundering.
**No Basis for Disconnection**
Given these factors, the National Bank emphasized that there is no basis for disconnecting Georgia’s financial system from SWIFT. The statement noted that the European Parliament’s resolution calling for additional restrictive measures against Georgia does not provide a justification for such an action.
**International Partnerships and Compliance**
The National Bank’s emphasis on compliance with international standards reflects the country’s desire to engage with the global community and maintain good relationships with its partners. As mentioned in the statement, the NBG’s efforts to bring the financial system and legislation closer to EU regulations have been consistently praised by international partners.
**What’s Next?**
The National Bank’s statement appears to be a response to concerns raised by some about the possibility of disconnecting Georgia from SWIFT. The move is seen as an attempt to reassure investors and maintain confidence in the country’s financial system.
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