“New regulations is going to be enforced in relation to banking holdings”, Vice Pm Dimitri Kumsishvili noted after Georgian Capital was separated from BGEO Group and Georgian Capital shares were placed at London Stock Exchange (LSE).
The banking sector must be separated from real economy, he was quoted saying.
“Today is of crucial importance for Georgia economy. We have received two independent companies as well as their shares are traded during the premium segment based in london Currency markets (LSE). Moreover, we’ve received one health company in real economy while using potential of development. Is it doesn’t issue of principle that commercial banks do their own personal business and noncore activities will likely be completed other programs with due legislative support.
I believe Georgian Capital might be a successful company, which will create new job places. The legislative package which we adopted in December 2017 might be improved further and new regulations will take effect in connection with banking holdings, which could more differentiate real sector from banking sector so as the real sector acquire more space for development”, Kumsishvili noted