National Bank of Georgia (country)

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National Bank of Georgia საქართველოს ეროვნული ბანკი (Georgian)
Headquarters	Tbilisi, Georgia
Central Bank of	Georgia
Currency	Lari
ISO 4217 Code	GEL
Website	nbg.gov.ge

This article is about the central bank of the country Georgia . For the Athens, Georgia based commercial bank, see The National Bank of Georgia (U.S.).

The National Bank of Georgia (Georgian: საქართველოს ეროვნული ბანკი) is the central bank of the European state Georgia.

1 Constitutional Authority
- 1.1 Article 95
- 1.2 Article 96
2 Council of the National Bank
- 2.1 Members of the Council of the National Bank
3 See also
4 External links

[edit] Constitutional Authority

The National Bank of Georgia is governed by Article 95 and 96 of The Constitution of Georgia.

[edit] Article 95

The National Bank of Georgia shall ensure the functioning of the monetary system of Georgia.
The National Bank of Georgia shall develop and implement monetary and exchange rate policies in compliance with the main directions determined by the Parliament.
The National Bank is the bank of all banks, and the banker and fiscal agent of the Georgian Government.
The National Bank shall be independent in its activities. Its rights and obligations, procedures of activities, as well as guarantee of its independence shall be determined under the organic law.
The name and unit of money shall be determined by law. The National Bank shall have the sole right to issue money.

[edit] Article 96

The highest body of the National Bank of Georgia is the Council of the National Bank, whose members shall be approved by the Parliament, by the majority of the total number of deputies upon the nomination of the President, for the period of seven years. The members of the Council may be dismissed only upon the decision of the Parliament, in accord with Article 64 of this Constitution.
The President of the National Bank shall be appointed from the Council members, and relieved of his/her duties by the President of Georgia, upon the nomination of the Council of the National Bank.
The National Bank shall be accountable to the Parliament and submit a report on its activities on the annual basis.

[edit] Council of the National Bank

The Council of the National Bank is the highest body of the National Bank of Georgia. Members are nominated by the President and approved by Parliament to seven year terms.