The Central Bank of the Republic of San Marino (CBSM) announces that, on June 3, 2024, a Memorandum of Understanding (MoU) was signed together with the National Bank of Georgia (NBG). The agreement establishes a framework for bilateral cooperation between the two authorities in carrying out their respective functions. It also provides for the exchange of information and mutual assistance in the supervision and regulation of banking, financial, and insurance activities.
The agreement was signed by Natia Turnava, Acting Governor of NBG, and Andrea Vivoli, Managing Director of CBSM.
Ms. Turnava stated: "The Memorandum of Understanding between the National Bank of Georgia and the Central Bank of the Republic of San Marino lays a solid foundation for deepening cooperation in the development of financial products, services, and between institutions, as well as the exchange of information on financial supervision. This MoU underscores the importance of strong cooperation in an increasingly interconnected global financial landscape. It is a significant step towards strengthening our collaboration in delivering cutting-edge financial services in our countries."
Dr. Vivoli welcomed the signing of the MoU, stating: "The signing of the memorandum of understanding with the National Bank of Georgia enables the Central Bank of the Republic of San Marino to strengthen its international relations, facilitate both the exchange of information for supervisory purposes, and share analyses and studies on Fintech and Blockchain technologies, which represent the new frontier of banking and financial intermediation."