Tbilisi. On July 31, the analytical center "Econometer" presented the analysis of amendments to the banking, tax and the related legislation in the "Tbilisi Marriott" Hotel. Reporting period covered 9 months, when the key amendments were made to the legislation. Based on the evaluation of amendments done over the reporting period the analytical center has concluded that the changes have considerably altered the previous environment in the banking-financial field; in addition, the procedure for receiving, systematization, processing and transfer to the Financial Monitoring Service of information was established and enacted in respect of all types of institutions providing financial services, which according to the report has aggravated the relation terms of these financial institutions with clients. The analysis further states that the issue of the "politically active person" or "persons in direct business relations with him/her" became of special concern. For instance, just like other institutes providing financial services, a currency exchange point is also obligated to clarify whether a client is the politically active person and take reasonable measures for identifying the monetary means and property of such a person and carrying out the advanced monitoring.

The report was prepared with the support of "Open Society - Georgia" Foundation and it does not include recommendations. In the opinion of the report's authors, recommendations will be developed following the public debates and discussions.