Nana Keinishvili Leaves Post as National Bank Council Member

National Bank of Georgia council member Nana Keinishvili, against whom the Prosecutor's Office is conducting an investigation, has left her post. She announced this in a statement published on her Facebook page.

Keinishvili said that she does not agree with the accusations made against her, but made the decision so that the interests of the state and the reputation of the National Bank would not be harmed.

The statement reads: "I categorically disagree with the accusations made against me, as if I used my official position to pursue personal business interests, to gain an unlawful advantage for any company or to influence the activities of other persons". Keinishvili says that the National Bank had repeatedly clarified that her status on the council was non-executive and that she did not have an executive management mandate.

She also noted that she respects the institutional independence of the National Bank and its authority.

The General Prosecutor's Office launched an investigation against Keinishvili under the article on unlawful participation of an official or a person equated to one in entrepreneurial activity. The investigation was launched on the basis of statements from the managers of BitExchange LLC, referred from the National Bank.

According to the Prosecutor's Office, based on these statements and the audio recordings attached to them, Keinishvili is involved in entrepreneurial activity and directly controls a network of companies regulated by the National Bank. The shares of these companies are registered in the name of a family member of hers and affiliated persons. According to the same statements, Keinishvili sought to enter the shares of a company regulated by the National Bank and thereby expand her own business.

After the Prosecutor's Office launched the investigation, the National Bank made a decision to recuse Nana Keinishvili until the investigation is completed.