Georgian National Bank Governor attends 95th annual BIS meeting in Basel

Natia Turnava, the Governor of the National Bank of Georgia, on Wednesday participated in the 95th annual meeting of the Bank for International Settlements (BIS) in Basel.

The annual meeting was attended by governors of BIS member central banks, other central banks, and high-ranking guests.

The main topic of this year's meeting was the experience of transition and emerging market economies in expanding cross-border payments.

The event emphasized the importance of the BIS's role in stimulating the financial markets of developing economies.

Representatives of central banks had the opportunity to discuss the challenges of payment systems and the identification of risk zones within financial systems. Industry leaders shared their experiences and the specific challenges they face.

As part of the discussions, participants also talked about banking security in the era of artificial intelligence.

According to the President of the National Bank of Georgia, BIS annual meetings, which bring together central bank governors, are an excellent opportunity to share experiences and examples of success.

During the BIS annual meeting in Switzerland, the President of the National Bank of Georgia also had the opportunity to exchange views with European Central Bank (ECB) President Christine Lagarde on the challenges facing the financial system. Natia Turnava personally thanked Christine Lagarde on behalf of the National Bank for the support provided by the ECB.

Other participants in the annual meeting included Andrew Bailey, Governor of the Bank of England; Jerome Powell, Chair of the U.S. Federal Reserve; and Pan Gongsheng, Governor of the People's Bank of China.

The Bank for International Settlements was founded in 1930. Its headquarters is located in Basel, Switzerland. The institution cooperates exclusively with central banks and other international financial organizations to achieve financial and monetary stability.