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Development of the Georgian Shares Market

Published: July 9, 2013 | 11:28 am
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Legislation designed to promote the development of the shares market in Georgia has not been approved by the Parliament yet. The Director General of the Georgian Stock Exchange Vakhtang Svanadze has told TV3 that there are certain forces which are opposed to the development of the shares market in the country. Mr. Svanidze points the finger at the banking sector, stating that the National Bank, as well as a number of private banks, regards the shares market as a potentially serious competitor.
A spokesman for the National Bank has stated that it would be illogical to claim that the Bank would wish to obstruct the process of creating a healthy environment on the market. The spokesman says that the National Bank fully supports the proposed legislation. A spokesman for the Bank of Georgia has added that allegations of this kind made against a company that is listed at the London Stock Exchange are baseless.

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