The “Young Barristers” reminded GiorgiKadagidze of the commercial banks’ bankruptcy cases

25 May, 2015

The “Young Barristers” attended a joint sitting of the Budget and Finance and the Sector Economy Committees  at the Parliament of Georgia, where the Chairman of the National Bank of Georgia represented NB annual report of 2014. The Chief-executive of the organization, ArchilKaikatsishvili took advantage of his right to ask question. After GiorgiKadagidze had stated, that soon, term of his authority, as the president of the National Bank, expires and he takes full responsibility for every problem,  emerged within the system during his governance, the Head of the “Young Barristers” asked GiorgiKadagidze to comment on the punitive measures, implemented against 4 commercial banks of the Banking System and requested for  explanation,  regarding National Bank’s activities in order to protect Stability of these commercial Banks. ArchilKaikatsishvili’s question was about 4 following commercial banks: “Cartu Bank”, “Kor Standard Bank”, “People’s Bank” and “Intellect Bank”. According to Kaikatsishvili, implemented activities have actually led to the bankruptcy of the mentioned banks, while the National Bank refused to intervene. GiorgiKadagidze evaluated ArchilKaikatsishvili’s question as provocative and stated, that the Prosecutor’s Office is conducting an investigation in record of these banks. According to Kadagidze, investigative bodies should get interested in every person’s legal liability, whose actions might contain elements of crime. The president of the National Bank of Georgia is ready to answer  all the questions, if the investigation gets interested in any person’s involvement in the mentioned  cases.

 



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