Natia Turnava Holds Meeting with Simonas Krėpšta, Member of the Board of the Central Bank of Lithuania

Natia Turnava met with Simonas Krėpšta, a member of the Board of the Central Bank of Lithuania, during the 57th annual meeting of the Asian Development Bank in Tbilisi. They discussed the current partnership between their central banks, potential for further collaboration, and joint projects.

The conversation covered the roles of central banks, focusing on monetary, fiscal, and macroprudential policies, with a detailed examination of advancements and challenges in financial technologies (fintech).

Natia Turnava highlighted the steps taken by the National Bank of Georgia (NBG) to promote fintech development, including the establishment of a regulatory framework with clear licensing rules and the introduction of various licensing regimes such as digital banking, Virtual Asset Service Provider (VASP), and platform licenses.

Simonas Krepšta emphasized the global activity in fintech and its widespread adoption by financial technology companies. He expressed that countries like Georgia and Lithuania share similarities and are both committed to developing stronger financial institutions, aspiring to become regional fintech hubs.