The National Bank of Georgia and the Central Bank of Hungary have signed a memorandum of understanding to strengthen cooperation between the two institutions.

The document was signed by National Bank of Georgia Governor Natia Turnava and Peter Beno Banai, Vice President of the Central Bank of Hungary, according to 1tv.ge.

The memorandum covers cooperation and the exchange of expertise in several areas, including monetary policy, international reserve management, payment systems, financial services development, and the regulation and supervision of financial institutions.

During a meeting in Tbilisi, the two sides also discussed prospects for further expanding cooperation between the central banks.

The agreement is expected to provide a framework for sharing experience and strengthening institutional ties between Georgia and Hungary in the financial sector.