Raul Khadjimba requested to work out proposals for the modernization of the banking system of Abkhazia as soon as possible

The President of Abkhazia Raul Khadjimba held a meeting on reforms in the banking sector.

The meeting was attended by the Speaker of the National Assembly of the Parliament of the Republic of Abkhazia Valeriy Bganba, Head of the Presidential Administration Astamur Taniya, Finance Minister Amra Kvarandziya, chairman of the National Bank Beslan Barateliya, deputy chairman of the National Bank Emma Taniya and Zurab Jinjolia, Chairman of the Parliamentary Committee on Budget, credit organizations, Taxes and Finance Georgiy Agrba, Mps: Zaur Mikvabiya, Beslan Tsvinariya, director of commercial banks operating in the territory of Abkhazia.

During the meeting, the President drew attention to the need to reform the banking sector in particular legislation. "We have come to understand what is really going on in the banking sector and try to rectify the situation is not very optimistic", - said Khadjimba. "We have a National Bank in the form of the building and the people working in it, but there is no national banking system", - he added.

The President demanded to take care who these funds are allocated to. "The amounts of loans granted are very huge - it is about 2.5 billion rubles. How are you going to return the money?"- Asked the President the heads of commercial banks. The President noted that the system of private lending in Abkhazia does not work, and drew attention to the need for a system of debt repayment.

The Chairman of the National Bank Beslan Barateliya agreed with the President that the situation is difficult and noted that the National Bank is unable to independently get out of this crisis. "We need to coordinate efforts with other government agencies, with the Parliament, government, law enforcement agencies. Think it is important to review the interaction of the National Bank with the Ministry of Finance and the Ministry of Economy, the fact that the National Bank was not just a settlement center, but also acted as an agent, which would contribute to the economic development of the country", - added Barateliya. He also noted the importance of reviewing legislation on the banking system and to establish a mechanism repayment of credit money, as huge numbers of bad debts hamper the development of the national economy as a whole.

According to the chairman of the SberBank of Abkhazia Timur Bganba, to change the situation with bad loans need the support of prosecutors and law enforcement agencies. "We propose to create a system of bailiffs", - he added. Chairman of the Parliamentary Committee on Budget, credit organizations, Taxes and Finance Georgiy Agrba proposed to revive the work of the National Banking Council and to reconsider the banking legislation. "We like the idea of a new leadership of the National Bank, and we are ready to work closely with him to support initiatives and innovation leadership of the National Bank", - said the deputy.

In turn, the deputy chairman of the National Bank Emma Taniya noted that the work was carried out by lending in accordance with the normative act "On the procedure for issuing loans," adopted in 2007. "Claims on banks sufficiently stringent. But the problem is not only in how the lender complies with its obligations. I believe that this crisis is systemic. For our part we require banks to go to court in the hope that the legislation will work and the debtor to enforce the judgment, but there are problems", - added Taniya.

The deputy of the National Assembly Zaur Mikvabiya stressed the importance of development roadmap for the conceptual definition of the measures to be taken to overcome the crisis of the banking system.

Summing up the meeting, Raul Khadjimba requested to develop proposals to modernize the country's banking system and out of the current banking crisis as soon as possible.