The Central Bank of Armenia and the National Bank of Georgia have signed a memorandum of understanding on cooperation in the financial sector.
According to the statement, the agreement is aimed at strengthening the stability of the two countries’ financial systems, increasing the transparency and resilience of the sector, and protecting the legitimate interests of depositors and investors.
The memorandum sets out the framework for exchanging information on financial regulation and supervision between the two sides. It also provides for cooperation in the licensing and supervision of financial institutions, market conduct and consumer protection, competition, crisis management, payment systems, the securities market, crypto-asset services, financial technologies and monetary policy.
According to the parties, the document will provide a solid basis for effective information-sharing, exchange of experience and the implementation of joint programmes between the two central banks.
