Georgia to prevent unauthorized entry of Iranian firms into country's banking sector
The Georgian government is taking additional measures to prevent the unauthorized entry of Iranian companies into Georgian banking sector, the president of the National Bank of Georgia Giorgi Kadagidze told journalists on June 25.
According to him, due to existing sanctions against Iran, the issues related to the Iranian investors are looked into with more detail.
"For instance, the National Bank of Georgia deranged attempts of several Iranian banks and individuals, associated with the Iranian authorities, to enter the banking sector of Georgia," Kadagidze said.
Kadagidze noted that two years ago the representatives of the Iranian Pasargad bank, who wanted to open bank's representative office in Tbilisi were in Georgia.
"But we refused to grant them with license, and because of that the Iranian Foreign Affairs Ministry expressed their displeasure," Kadagidze said.
According to him, the National Bank intends to examine the situation around Investbank, which is currently controlled by Iranian investors.
This statement was made as an answer to earlier article published by Wall Street Journal about the Iranian business is bypassing the sanctions in Georgia.
A June 21 article from WSJ says citing officials in Tbilisi, that the Georgian government froze approximately 150 bank accounts tied to Iranian businesses and individuals in order to comply with United Nations sanctions aimed at curbing Tehran's nuclear program.
U.S. and European officials have voiced growing concerns that Iran is seeking to use Georgia and its financial system to evade mounting international sanctions that are aimed at denying Tehran the ability to produce atomic weapons.
Iran says its program is strictly for peaceful purposes.
Sanctioned Iranian energy companies and firms tied to Iran's elite military unit, the Islamic Revolutionary Guard Corps, are among the firms that have sought to do business in Georgia, according to Iranian and Georgian officials.