Regulatory Alerts2018-08-27 | 195/04Approval of the Rule for Providing Information to a Credit Information Bureau in Georgia
The National Bank of Georgia issued Order №195/04 to approve regulations governing the provision, recording, and access of credit information within the country's Credit Information Bureau. The rule mandates that lending organizations daily report credit and non-credit data to the Bureau, which must maintain these records for up to 35 years while ensuring strict data security and consumer protection standards. It further defines the supervisory powers of the National Bank, the operational obligations of the Bureau, and the specific rights and responsibilities of lending entities and information providers.
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