The licensing of financial institutions in Georgia falls within the competence of the National Bank. It is important to know from the outset: the detailed conditions for a specific institution type's license — the minimum capital, the application form, the requirements for shareholders — are set out in separate sectoral laws, and the basis of this page is the framework norms of the organic law on the National Bank: definitions, the supervisory body, and supervisory powers.
Representatives of the Financial Sector
The law reflects the representatives of the financial sector in a single list: commercial bank, microbank, non-bank deposit-taking institution, brokerage company, independent registrar of securities, central depository, specialized depository, stock exchange, investment fund, asset management company, microfinance organization, payment system operator, payment service provider, accountable enterprise, and currency exchange point. From 1 January 2027 the list will be supplemented with a securitization special purpose entity, a factoring company, and a factoring platform.
By definition, a commercial bank is a legal entity licensed by the National Bank that takes deposits and, using them, carries out in its own name the banking activity defined by Georgian legislation. A microbank is a legal entity established in the legal form of a joint-stock company and licensed by the National Bank. The financial sector is precisely the totality of these representatives.
The Financial Sector Supervision Committee
The President of the National Bank creates, by order, the Financial Sector Supervision Committee of the National Bank. The members of the committee are the President of the National Bank, the relevant vice-president, and the heads of the relevant structural units of the National Bank. By the President's decision, the members may also include other employees of the National Bank and invited persons.
This structure means that the strategic issues of sector supervision are decided precisely in this collegiate body — with the participation of the National Bank's leadership and the responsible units.