British Diplomat, Investors Waiting for Answers: Do Georgian Banks Operate Fairly?
The Rustavi Azot and Bank of Georgia trial in London seems to have become a serious test for Georgia, casting a spotlight that puts it under the scrutiny of numerous international organizations, large investors and diplomats.
According to former Ambassador of Great Britain to the UK Donald McLaren, questions have already been asked and they are now waiting for the answers.
"A very interesting case is being discussed at the London Court. Rustavi Azot sued the owner of Bank of Georgia," the Diplomat noted. "This is a very important thing that international investors are watching closely. They are interested how banks work in Georgia; whether they act fairly in business affairs; whether business closure or misappropriation of companies based on illegal pressure is occuring. These questions are now being asked of Georgia by businessmen, and both businessmen and investors are waiting for them to answer. It is very important that the banks see their role in the economy and contribute to it as positively as possible."
According to McLaren, both businessmen and banks should act only within their own rights, and the interest of business seizure should not be seen in the actions of banks.
"Another area that needs to be paid attention to is the actions of banks. Banks have an important role in the field of economy. They should be friends of businessmen, not pressure executors. The businessman must pay taxes, bank expenses and so on, but for a bank to be successful part of the economy, it should be oriented on how to help business and not put pressure on it," he said.
Image source: GBC.ge
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