The feasibility study for the development of an electronic registry for factoring contracts was launched by the European Bank for Reconstruction and Development (EBRD) in June 2022.
On 15th of February, experts from the KPMG delivered the draft feasibility report on factoring and presented the findings for the creation of the factoring registry. The meeting was attended by the representatives of the financial institutions and commercial banks in Georgia, as well as other stakeholders.
KPMG representative, Ms. Irina Gevorgyan, presented the scope and function of the factoring registry, described the factoring process and offered several options for the registry’s implementation.
In order to ensure a more effective utilization of the factoring registry, the meeting participants shared their remarks and suggestions, and agreed to conduct a further meeting with the IC member business associations and the Georgian banking sector.