The National Bank of Georgia (NBG) is making further changes in its regulations, guaranteeing better secured services for the customers.
From now on the commercial banks in Georgia will be able to offer the customers secured service - an escrow.
An escrow is an instrument that reduces the risk and secure the buying-selling transaction.
When opening or using the Escrow Account, the following rules should be taken into account:
The amendments were made today in the ‘instructions on opening accounts in banking institutions’ following the order by the president of the NBG.