Tbilisi. Transparency International – Georgia has released a blog: "Stripping banking supervisory functions off the National Bank will prevent it from discharging constitutional power".

Currently the Parliament is examining legislative initiative on the establishment of Banking Supervision Department as an independent financial supervision agency.

"... We believe that deprivation of financial monitoring function last year and banking supervision functions currently clearly aim to weaken the National Bank. Legislative initiatives driven by political views and not practical needs cannot facilitate stable and effective functioning of financial system. We think any initiative should serve proper functioning of the system and should not be associated with concrete individuals, who the ruling team may or may not like...", the blog states.

Source: transparency.ge