Giorgi Kadagidze

Giorgi Kadagidze

Permanent lecturers

Capital CAPS


Giorgi Kadagidze


Best Banker of Europe 2014  Head of the National Bank of Georgia (2009-2016)

Building the State Economy

Brief history of the major states of the economy will be discussed during the course. Singling out and analyzing the factors that have helped or prevented strong economic growth – the main part of the course…

Presentation      More

PROFESSIONAL BACKGROUND

Feb 2009 – present Governor of the National Bank of Georgia (NBG) Tbilisi, Georgia
Alternative Governor to the IMF
Chairman of the BSTDB Board of Governors
Professional achievements:

• Monetary policy – Prudent monetary policy, fully supported by the IMF, EBRD, WB. Average Inflation 2009-2014 was 3,2%, average real GDP growth 2009-2014 amounted 4%.
• Financial supervision – Introduction of advanced risk-based supervisory regime. “In many ways the NBG’s approach is an example for other developed countries” (Georgia FSAP, 2015). Total Assets of Banking sector reached USD 11,1 billion in 2014 from USD 4,9 billion in 2009. Two largerst banks successfully listed on the LSE.
• IT infrastructure – NBG won various awards for its IT infrastructure, including “Best Information Security Management” at the 7th regional conference on Cyber Security and ICT Development (GITI 2014).
• Cash circulation and infrastructure – In 2013, NBG Cash Center was nominated as “Best Public Construction” in Georgia. Georgia is the first country in the post-soviet area with cash center fully equipped with modern technologies.
• Innovation – introduction of electronic signatures – The use of electronic signatures entails substitution of paper-based procedures and docflows in the Georgian banking sector with electronic signatures, enlarging access to finance in regions without physical presence of branches.
• Exporter of reforms –NBG shared knowledge and experience with colleagues from different central banks through tailor-made trainings.
• International accomplishments – NBG is active player in the regional group “Banking Supervisors from Central and Eastern Europe” (BSCEE) and “Basel Consultative Group.”
• Transparency – In 2011, IDFI (Institute for Development of Freedom of Information) granted a special award to NBG for ensuring the maximum accessibility of public information.

Apr 2008 – Feb 2009 Head of the Georgian Financial Supervisory Agency Tbilisi, Georgia
Professional achievements:
• Financial Stability – Enhanced resilience of the banking sector against significant shocks, and successfully navigated it through major distresses of 2008 (double shock of the war and of the global financial crises).
• Successfull completion of the second wave of consolidation of Georgian banking sector. Resolution of problem banks widely praised by all stakeholders.
• Transformation of the regulatory framework from rule-based to risk based. More than 200 normative acts changed or substantially edited.

Jul 2007 – Apr 2008 Head of the Financial Monitoring Service (FIU) Tbilisi, Georgia
Professional achievements:

• Georgian AML/CFT system – major achievements made with respect to the development and strengthening of the Georgian AML/CFT system, as reflected in the progress report to MONEYVAL Committee of 2008.
Jan 2005 – Jul 2007 Held different managerial positions at the National Bank (Director of Banking Supervision Department), Tbilisi CityHall (Director of Financial Department), Office of Prosecutor General (Director of Economic Department) Tbilisi, Georgia
Jul 2003 – Dec 2005 Head of Credit Department, JSC People’s Bank of Georgia Tbilisi, Georgia
Sept 2001- Apr 2003 Member of Audit Committees in number of financial insitutions Tbilisi, Georgia
May 2000 – Jul 2003 Audit Manager (since 2002)
UBC International (PWC Partner, later bought by PWC) Tbilisi, Georgia

EDUCATION

2013 – 2014 HARVARD BUSINESS SCHOOL, PLD (Executive Program) Boston, MA, USA
2005 – 2006 GEORGIAN INSTITUTE OF PUBLIC AFFAIRS, MPA Tbilisi, Georgia
1997 – 2001 EUROPEAN SCHOOL OF MANAGEMENT, BBA Tbilisi, Georgia
1997 – 2001 PRESTON UNIVERSITY, BBA (Double Degree) Wyoming, USA

INTERNATIONAL CONSULTANCY

Shared Georgia’s reforms experience (including in the areas of monetary and financial policies), conceptualized and delivered tailor-made training to visiting officials from Moldova, Armenia, Azerbaijan, Ukraine, Ethiopia, Papua New Guinea, Afghanistan, Suriname, Malawi, Zambia, Congo, Tajikistan and Kyrgyz Republic.

PART-TIME TEACHING EXPERIENCE

Sept 2014 – present Ilia State University
Models of Economic Development Tbilisi, Georgia
Sept 2013- Dec 2013 Caucasus School of Media
Economics Tbilisi, Georgia

RECOGNITIONS AND ACKNOWLEDGEMENTS

The Central Bank Governor Of The Year 2014 For Europe (named by “The Banker”)

LANGUAGES

Fluent in Georgian, English and Russian.

PUBLICATIONS

Chief Editor, “Economics and Banking”
Edited various articles published by the magazine:
• P. Lezhava – “Credit Pricing and Competition in the Georgian Banking Sector”
• O. Nadaraia, O. Gorgodze, N. Sharumashvili, D. Utiashvili – “Economic Growth and Structural Transformation”
• A. Bluashvili – “Monetary Policy Transmission Mechanism in Georgia: Recent Dynamics”
• T. Mdivnishvili – “Exchange Rate Impact on Consumer and Import Prices”
• N. Sharumashvili, G.Agladze – “Commercial Banks Investment in the Non-banking Sector and its Expediency in Georgia”
• O. Gorgodze – “Institutional Architecture of Financial Supervision and Ways of its Improvement”

This is a unique website which will require a more modern browser to work!

Please upgrade today!