(Original) Because of the unpreparedness of the question, Fridon Indzhiya proposed to remove from the agenda the draft laws related to Georgia's accession to the European Payments Area

07.09.22

At a joint meeting of three committees of the Parliament of Georgia, where legislative initiatives related to Georgia's accession to the Single European Payment Area (SEPA) were discussed in an accelerated manner, the chairman of the parliamentary political group "European Socialists" Fridon Indzhiya proposed to remove this issue from the agenda.

According to the deputy, such important bills require deep study and detailed consideration, while the presented material is too voluminous, and it is difficult to study all the issues in such a short time.

The deputy asked questions to the vice-president of the National Bank, Archila Mestvirishvili, who noted that Georgia plans to apply for membership in SEPA in November at a meeting of this organization.

As noted by Fridon Indzhiya, integration into the European Union is very important and desirable for the banking system of Georgia, but it should serve, first of all, to strengthen the country's economy, return emigrants and prosperity.

«How attractive will our banking system become for other countries after joining SEPA? Based on the example of Switzerland, we should also try to make the Georgian banking system attractive at least for our neighbors in the region. How much is my vision reflected in the bill?

"I would like to clarify about unclaimed deposits. Before they pass into state ownership, what procedures will be carried out, will the search for relatives, heirs be carried out, and what is the basis for the 10-year term written in the draft law, why not 15 or 20 years?

"Article N3 of the draft law on banking activity states that a license to carry out banking activity is issued by the National Bank if "shareholders who own a significant share meet the requirements specified by this law and the legal act of the National Bank on the acquisition of a significant share of a commercial bank. I am interested in how much the rights of the entrepreneur and the shareholder will be protected by the legal act of the National Bank. For its part, the National Bank can accept any act that can bind everyone's hands».

Laws presented at the joint meeting of the parliamentary committees on integration with Europe, legal issues and on sectoral economy and economic policy suggest new regulation of such issues as: management of user accounts, transactions, transfers, as well as protocols, rules and procedures related to regulation Financial sphere.

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