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Tbilisi (GBC) – The National Bank of Georgia ( NBG) announced another fine for violating AML/CFT legislation.
MFO "B Credit" was fined GEL 4,000 for deceiving the supervisor. The NBG noted 2 facts of providing incorrect data.
Each case is subject to a fine of GEL 2,000, and accordingly, GEL 4,000 was issued.
სიახლეები ამავე კატეგორიიდან
In 2Q26, exports of the mentioned commodity group amounted to more than $4.7 million, while in the same period of 2025 this figure amounted to $659.9 thousand.Against the backdrop of a sharp increase in exports, the import rate has decreased. In particular, in 2Q26, live sheep and goats worth $33.8 thousand were imported into Georgia, which is 54.3% less than the figure for the corresponding period of last year ($74 thousand).
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In 2Q26, imports of the mentioned commodity group amounted to 32.2 thousand USD, while in the same period of 2025 this figure amounted to 8.4 thousand USD.It is worth noting that according to the foreign trade database, exports from Georgia in this category were not recorded in any quarter and the market is fully dependent on imported goods.
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During the reporting period, the GCCA received a total of 1508 applications and 4655 calls related to consumer rights protection-representing a 106% increase in the number of applications submitted compared to the corresponding period of the preceding year.Furthermore, during the reporting period, the Georgian Competition and Consumer Agency identified 204 violations of consumer group rights in 472 cases. Due to non-compliance with obligations imposed by the GCCA, 93 traders were fined in 221 cases, with total penalties amounting to 214 398 GEL. For consumer protection, 120 commitment agreements were signed in 139 cases, where traders committed to modifying their internal business policies and restoring the rights of affected consumers who suffered due to unfair business practices.According to the reporting period, 70% of submitted applications concerned online trading, while 30% related to in-person purchases. From a regional perspective, Tbilisi accounted for the largest share of applications 79%, followed by Adjara 6%, Imereti 4%, Kvemo Kartli 2%, Kakheti 2%, Samegrelo Zemo-Svaneti 2%, etc.As regards the subject matter of applications submitted during the first seven months of the current year, 628 concerned requests for reimbursement, 334 related to the repair or replacement of defective goods, 355 pertained to the restoration of rights in cases of deficient service provision, and the rest is 191. By sector, wholesale and retail trade accounted for the largest share at 70%, followed by transport and storage 12%, arts, entertainment and recreation 3%, and other activities 15%.
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Price movements across the following categories primarily drove the formation of the monthly inflation rate:Food and Non-Alcoholic Beverages: Prices in this category fell by 0.9 per cent, contributing -0.3 percentage points to the monthly inflation figure. Price decreases were recorded in the following sub-categories: vegetables and melons (-12.3 per cent), fruit and grapes (-2.8 per cent), sugar, jam, and other confectionery (-0.8 per cent), mineral and spring water, soft drinks, and natural juices (-0.5 per cent), meat and meat products (-0.3 per cent), and fish (-0.1 per cent). Conversely, price increases were observed in coffee, tea, and cocoa (2.3 per cent), milk, cheese, and eggs (2.1 per cent), oils and fats (1.2 per cent), and bread and cereals (0.7 per cent).Clothing and Footwear: Prices in this category dropped by 4.9 per cent, contributing -0.22 percentage points to monthly inflation. Reductions were recorded across both clothing (-6.4 per cent) and footwear (-2.4 per cent).Housing, Water, Electricity, Gas, and Other Fuels: Prices rose by 0.8 per cent, contributing 0.08 percentage points to the monthly index. The rise was predominantly driven by increases in actual rentals for housing (2.3 per cent) and regular maintenance and repair of the dwelling (1.3 per cent).Health: the prices increased by 4.7 percent, contributing 0.4 percentage points to the overall index. The prices were higher for the following subgroups: medical products, appliances and equipment (7.7 percent), out-patient services (2.7 percent).
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According to the head of government, there is great interest in the project both among Georgia's partners and neighboring countries, as well as in Central Asia, the Middle East and Europe.Kobakhidze noted that the pace of work has been accelerated to the maximum after the contract was revised, reducing its cost by about $50 million. He thanked the Ministry of Economy and the minister personally for this result. According to the Prime Minister, the smooth progress of the work gives grounds for optimism that the port will receive its first ships by 2029.The Prime Minister’s statement was preceded by information from the Ministry of Economy, according to which the first dredging vessel (Tristao Da Cunha) entered the Anaklia sea area on August 1 to carry out dredging works. According to the ministry, the vessel will begin work on the construction of the breakwater channel after completing the procedures established by law.According to the project, the seabed in the Anaklia sea area will be deepened to 17.5 meters, and a 1,380-meter-long breakwater will be built at a later stage. The construction works in the sea area of the future port are being carried out by the Belgian company, a member of the so-called “Big Four”, Jan De Nul N.V., together with Georgian partners. The Ministry of Economy announced the Belgian company’s victory in the tender on August 1, 2024.As announced in early July, the Georgian government is building the Anaklia deep-water port using the world-proven “landlord” model. This model will allow the state to develop the port not in partnership with one, but with several states and companies at once, which will create the best conditions for attracting cargo and its efficient operation. Along with the creation of port infrastructure, the government will also ensure the arrangement of road and rail access to the port.In addition, according to the state decision, the investor will have only a 49% share of the port, while the state will retain the controlling 51%. On May 29, 2024, the Georgian government announced that a Chinese-Singaporean consortium would acquire a 49% share of the Anaklia port.According to the original project, the first ship was to be received by the Anaklia port in 2020. That same year, the Georgian Dream government terminated the 2016 contract with the Anaklia Development Consortium (ADC). The consortium included TBC Holding Anaklia (Georgia), Van Oord PPP International (Netherlands), Wondernet Express (UK), G-Star LLC (Bulgaria), Conti International (USA), and Dutch investor Bob Meyer.At the time, the government cited non-fulfillment of obligations as the official reason, while the consortium itself pointed to state interference. The state won two international arbitration disputes in this case, after which it promised to continue the construction of the port with its own funds.
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DemandIn Jun-26, total number of sold apartments in Tbilisi, according to the Public Registry data, stood at 4,503 units, of which:• Sales on the secondary market increased significantly by 22.3% y/y to 2,224 (up 16.2% y/y in 1H26), reaching the highest monthly level after 2022. • Sales on the primary market, where data are impacted by delayed registrations, were up 52.6% y/y to 2,279 (up 19.1% y/y in 1H26). • G&T real-time survey of developers, which captures current trends on the primary market, showed that number of apartments sold on the primary market surged by 54.4% y/y, partly due to low base effect. Cumulatively, the number of apartments sold on the primary market was up 33.5% y/y in 1H26. In total, 22,799 transactions were registered in Tbilisi in 1H26, bringing the residential market value to US$ 2.0bn (+26.6% y/y).In total, 22,799 transactions were registered in Tbilisi in 1H26, bringing the residential market value to US$ 2.0bn (+26.6% y/y).SupplyIn Jun-26, after 8 consecutive months of decline, the area of issued permits rebounded sharply, up 225.3% y/y (to 300,095 sq.m in 29 construction projects) and reached the highest monthly level after 2021. Despite the increase, cumulatively in 1H26, living area of permits issued were down 7.3% y/y.PricesIn Jun-26, primary market price increased moderately, up 0.3% m/m to US$ 1,417 per sq.m. The average price on the secondary market (for new buildings built with permits issued from 2013) was down 1.5% m/m, reaching US$ 1,345 per sq.m, indicating partial stabilization after a sharp 5.0% increase in April.RentsIn Jun-26, price for renting an average (50-60 sq.m) apartment in Tbilisi remained high at US$ 10.1 per sq.m (+1.4% m/m), keeping rental yield high, at 8.5%.
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According to the Ministry of Agriculture, Karumidze brings extensive experience in executive management and foreign relations. Between 2020 and 2024, he served as Deputy Chairman and subsequently First Deputy Chairman of the Parliamentary European Integration Committee. He was also a member of the Foreign Relations Committee.“Levan Karumidze possesses long-standing experience in executive leadership within the public sector. He previously served as Deputy Head of the Department of the National Security Council of Georgia and worked within the Administration of the Government of Georgia managing international media relations. Furthermore, he held leadership positions across various public law entities under the Ministry of Education and Science.Levan Karumidze’s professional background will support the Agency’s effective operation, raise the global profile and international promotion of Georgian gastronomy, foster the development of gastronomic heritage, and strengthen co-operation with international partners, which, in turn, will bolster Georgia’s positioning as a nation with a distinguished culinary culture.It is worth noting that the Public Law Legal Entity National Gastronomy Agency under the Ministry of Environmental Protection and Agriculture was established pursuant to a Georgian Government decree dated July 20, 2026. The Agency’s goal is to protect, develop, promote, and elevate the international profile of the country’s gastronomic heritage, as well as to formulate and implement a unified state policy and strategy in the field of gastronomy,” the Ministry stated.
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Lion Finance Group (BGEO LN) shares closed at GBP 116.10/share (-0.77% w/w and +2.47% m/m). More than 264k shares traded in the range of GBP 110.50 - 119.30/share. Average daily traded volume was 39k in the last 4 weeks. The volume of BGEO shares traded was at 0.61% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 48.12/share (+1.05% w/w and +8.57% m/m). More than 294k shares changed hands in the range of GBP 46.00 - 49.32/share. Average daily traded volume was 51k in the last 4 weeks. The volume of TBCG shares traded was at 0.53% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 39.55/share (-5.16% w/w and -5.38% m/m). More than 95k shares traded in the range of GBP 39.30 - 42.35/share. Average daily traded volume was 29k in the last 4 weeks. The volume of CGEO shares traded was at 0.28% of its capitalization.
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