National Bank 1. The National Bank of Georgia shall conduct monetary policy to ensure price stability and maintain the stable operation of the http://www.matsne.gov.ge 010.010.000.01.001.000.116 financial sector. The National Bank shall be the bank of banks, the banker and the fiscal agent of the Government. 2. The Board of the National Bank is the supreme body of the National Bank of Georgia. Members of the Board of the National Bank shall be elected by a majority of the total number of the Members of Parliament for a term of 7 years upon nomination by the President of Georgia. The President of Georgia shall appoint the President of the National Bank from among the members of the Board of the National Bank and dismiss him/her upon nomination by the Board of the National Bank. 3. The National Bank shall be independent in its activity. Only the administrative and capital expenditure of the National Bank shall be subject to supervision and control provided for by Article 69 of the Constitution. The National Bank shall be accountable to Parliament and shall annually submit an activity report to it. 4. Only the National Bank shall have the right to money emission. The name and unit of currency shall be determined by the organic law. 5. The competences, procedure for the activity and guarantees for the independence of the National Bank, shall be determined by the organic law. Constitutional Law of Georgia No 1324 of 13 October 2017 – website, 19.10.2017 Constitutional Law of Georgia No 2071 of 23 March 2018 – website, 2.4.2018
§ Article 68National Bank
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