National Bank: Keinishvili Acted Alone in Business Activity

The National Bank of Georgia has once again responded to the alleged illegal involvement of Nana Keinishvili, a member of the NBG Council, in business activity, and stated that it "fully distances itself" from it.

According to the National Bank, based on high reputational standards, the council unanimously decided to recuse Keinishvili from participating in the council's activities until the investigation is completed and the objective truth is established.

The bank emphasizes that Keinishvili acted alone, which, according to it, is also confirmed by an audio recording made by a company representative, in which he himself speaks about his own plans and goals.

The National Bank explains that supervision of virtual asset service providers did not fall within Keinishvili's area of oversight, therefore he could not have influenced the decision-making process. The inspection process of any entity subject to NBG supervision is strictly confidential, and access to the information is available only to the relevant team, including council members.

According to the bank, Keinishvili was a non-executive member of the council, therefore he did not participate in day-to-day executive management and did not have an operational management mandate.