Congratulations to the Workers of the Banking System of Abkhazia

Sukhum, 20.00

President Raul Khadzhimba congratulated the workers of the banking system on the occasion of the 25th anniversary of the establishment of the Bank of Abkhazia and the banking system of the state.

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Dear workers of the banking system of the Republic of Abkhazia!

I heartily congratulate you on the occasion of the 25th anniversary of the establishment of the Bank of Abkhazia and the banking system of the state.

The banking system of Abkhazia was first established in the pre-war period. Yet, it had to survive through the most difficult post-war conditions, together with the entire state. Thanks to the professionalism of the workers of the banking system, competent work of the leadership of the Bank of Abkhazia and commercial lending institutions, their commitment to business in Abkhazia, our own banking system has been fully established.

The National Bank of the Republic of Abkhazia became the most important financial institution, which plays an important role in the financial and economic development of the state. In 2015, the Bank of Abkhazia showed a positive trajectory of development in key areas of activity. A lot has been done for strengthening the stability of the banking system. Institutional changes in the development of cashless circulation of money have taken place.

The work on improving the banking system has to continue, also through strengthening the supervision of banks, developing a competitive environment among commercial banks and creating diversity in the range of banking services available to people and businesses. 

The most important task is to increase the accessibility of bank lending for the economy and to build tools for more efficient access to the financing of small and middle-sized businesses. Let me note that in 2015, a lot has been done in this field, particularly in the task of assessing the quality of loans, forming the necessary reserves and reducing overdue loans and advances. 

There has to be an increase in the growth of capitalisation of Abkhazian banks through the tools of financing, also through market funding and attracting investments from the population and judicial persons. The state will continue attracting financial resources for the recapitalisation of the Bank of Abkhazia.

Moreover, the system of cashless payments has to be actively developed, which includes strengthening the national payment system, its security, increasing people’s trust in plastic cards and implementing cobranding projects with Russian partners.

I am certain that the tasks placed before the Bank of Abkhazia and the entire banking system of the state will be completed.

On this wonderful day, I would like to wish you, dear workers of the banking system, strong health, prosperity and new successes.

Raul Khadjimba 

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