The bill on the National Bank of Georgia was approved by the Parliament with 83 votes against 8 using the expedited rule.
The law stipulates that the Vice-President is appointed by the President Georgia on the advice of National Bank Board, and can be removed.
Vice-Presidents are appointed by the National Bank Board on the nomination of President of National Bank. If the President is removed from office, the National Bank Board will nominate at least two National Bank Board members.
In the absence or incapacity of the President, the First Vice-President will perform his/her duties. If he/she is unable to do so, one of the Vice Presidents will be assigned by NB Board.
The National Bank Board is composed of the President, First Vice-President and 3 Vice-Presidents.
The bill was initiated by the following MPs: Paata (Rima) Kvizhinadze; Irakli Zarkua; Gogi Meshveliani; and Anton Obolashvili.
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