Basel Compliance is the cornerstone of stability for the Georgian banking system. Developed by the Basel Committee on Banking Supervision (BCBS), these standards (Basel I, II, and III) aim to strengthen the financial resilience of banks and minimize systemic risks. In Georgia, where the banking sector is a dominant part of the economy, the National Bank of Georgia (NBG) actively implements Basel principles. This service involves comprehensive legal and regulatory support for commercial banks and financial institutions to ensure they fully meet strict international requirements regarding capital, liquidity, and risk management. Compliance with Basel standards is not just a mandatory norm — it is a guarantee of a bank's reputation, investor confidence, and long-term stability.
What Does the Basel Compliance Service Cover?
Specialists on our platform offer full consulting services on the implementation and monitoring of Basel framework regulations:
- Implementation of the Three Pillars: Legal assurance for meeting Minimum Capital Requirements (Pillar 1), the Supervisory Review Process (Pillar 2), and Market Discipline/Transparency requirements (Pillar 3).
- Management of ICAAP and ILAAP Processes: Preparation and legal audit of documentation for the Internal Capital Adequacy Assessment Process (ICAAP) and Internal Liquidity Adequacy Assessment Process (ILAAP).
- Risk Management Framework: Developing policies for credit, market, and operational risk management in accordance with Basel standards.
- Legal Support for Stress Testing: Participating in the development of stress test scenarios and communicating results with the regulator.
- Reporting System Setup: Preparing "Pillar 3" reports for submission to the National Bank, covering public disclosure standards.