Published June 6, 2025 | Version v1
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COMPLIANCE RISK – WHAT IS KNOWN ABOUT IT IN GEORGIA?

Authors/Creators

  • 1. East European University

Description

As global attention to non-financial risks grows, compliance risk management has become a key component of sound governance in the banking sector. While this field has evolved internationally since the early 2000s, regulatory approaches and academic analysis remain underdeveloped in Georgia. This study examines the national regulatory framework governing compliance risk management in the Georgian banking sector, alongside the country’s international obligations. Employing qualitative document analysis and comparative methods, the research identifies significant gaps, including weak enforcement mechanisms, the absence of a standardized definition of compliance risk, and a lack of clearly defined management practices. The findings highlight the need for a unified regulatory approach aligned with international standards to ensure effective compliance risk governance. 

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References

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