---
title: "Basel Compliance"
url: "https://legal.ge/en/service/banking-and-finance-law-en/basel-compliance-en"
field: "Banking & Finance Law"
description: "Legal support for Basel III compliance in Georgia. ICAAP, ILAAP, and NBG regulatory reporting. Find banking experts on Legal.ge."
reviewed: "2026-06-27"
updated: "2026-10-15"
publisher: "legal.ge"
---

# Basel Compliance

> Source: legal.ge, https://legal.ge/en/service/banking-and-finance-law-en/basel-compliance-en

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.

The full text is available on legal.ge after signing in: https://legal.ge/en/service/banking-and-finance-law-en/basel-compliance-en

### What is the National Bank's supervisory task?

To promote the financial stability and transparency of the financial sector, to protect consumers and investors, and to control systemic risk, as laid down by Article 47 of the Organic Law.

### Who falls under National Bank supervision?

Commercial banks, microbanks, banking groups, non-bank deposit institutions, microfinance organizations and other financial market participants, under the perimeter set by Article 48.

### Where are current norms published?

In the National Bank's public registry of normative acts, directives and instructions; sanction information is published on the official website.

### What force does an electronic signature have?

An electronic signature applied under the procedure determined by the National Bank has legal force equal to a personal signature on a material document.