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The News in Brief

Monday, March 11
By Mariam Chanishvili

Former President of National Bank questioned at Tbilisi City Court

The Former President of the National Bank of Georgia, Giorgi Kadagidze was interviewed by the prosecution at the Tbilisi City Court in connection with TBC Bank case.

As Kadagidze told the reporters, he supports maximum transparency of the TBC Bank case and believes that the creation of an investigative commission on this issue in Parliament will be the most adequate decision.

He also noted that TBC Bank is the largest financial group in Georgia and this is why the events that take place and questions that arise need a very high level of publicity due to the fact that the issue has gone beyond the scope of a particular business group and is a much bigger public interest subject.

“The interview has shown that there are no problems with the regulating authorities. The key questions concerned the functions and responsibilities of the Financial Oversight …and concrete actions that concerns a very difficult period for our country [Russia-Georgia war in August 2008], as well as a specific inspection, which has no link with the problematic transaction [that prosecutors are investigating],” Kadagidze said.

The current investigation into TBC Bank concerns a 2008 transaction – which prosecution suspects might violate the money laundering regulations.

MIA to allocate 486 thousand GEL for filming documentary series

The Ministry of Internal Affairs of Georgia will shoot documentary mini-series for 486 051 GEL, which has already been approved by the Government of Georgia and by the Prime Minister, Mamuka Bakhtadze's signature.

For the implementation of the plan, the Ministry shall acquire the official license from Columbia Broadcasting System (CBS) format - "48 hours".

It was noted that one of the main challenges of police is to raise public confidence through the introduction of modern police instruments.

“Strengthening the direct relationship with the society and getting them familiar with the details of criminal police activities based on actual cases is a key factor in increasing public trust towards the police,” reads the document.

Duration of each episode may be different, which causes the difference in the cost of each series.