The Board of the National Bank of Georgia (NBG) appointed Archil Mestvirishvili and Murtaz Kikoria as Vice Presidents, the bank reported on December 23.
Archil Mestvirishvili has retained this position after being elected in the Board on December 1 for the second seven-year term. Murtaz Kikoria, who served as CEO of the Bank of Georgia till September 2016, was also elected as a member of the Board on the same day.
The appointment of Vice Presidents came after the Parliament approved amendments to the Law on the National Bank of Georgia on December 16, according to which the President of Georgia was deprived of the right to appoint NBG’s Vice Presidents. According to the new rule, the Vice Presidents are appointed by the NBG Board upon nomination of the NBG President.