The Chair of the Budget and Finance Committee, T. Mechiauri and the Deputy, N. Ebanoidze held the meeting with the WB experts. The topic was the deposit insurance system. As parties noted, the deposit insurance system is one of the main obligations under EUAA. The system is of utmost financial importance and facilitates to functioning of the bank sector. The parties spoke about pension reform and the respective drafts, envisaging replacement of the current pension system with the saving pension system.

According to the WB experts, Georgia needs the pension reform. The centralized pension funds shall as well be created. They introduced the international experience in this direction. The parties discussed online credits and pawn services. As the experts noted, it would be preferable to develop the changes to the law on Micro-Financial Organizations. The rights of the debtors shall be protected under the law. The parties spoke about public awareness on financial issues.

“The meeting was the initiative of the WB and it was quite representative. MPs shall be better informed as it is up to us to adopt the laws. We planned sundry meetings in the WB office in November, also we will hold the skype meeting to share our opinions. I think the Committee shall be more actively involved and the Parliament shall have more information”, - N. Ebanoidze stated.