Two largest banks of Georgia excluded Unistream from the number of fast money transfer systems
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Bank of Georgia and TBC Bank, which jointly control about 80% of the banking sector in Georgia, have ceased servicing customers who receive money through the Unistream fast transfer system since July 21. This information was confirmed to Kommersant in both banks, as well as in the Banking Association of Georgia. The reason was the US sanctions against the Russian bank Unistream.
Bazisbank told Kommersant that their clients use Unistream services as usual, and so far no instructions have been received from the National Bank of Georgia regarding this transfer system.
BOG and TBC joint-stock companies are dominated by Western, mostly American capital, while Bazisbank is almost entirely owned by Chinese shareholders.
Unistream, along with Zolotaya Korona, is the most popular fast money transfer system among residents of Georgia, as well as Russians who have moved to the country for permanent residence.
In 2023, currency transfers from the Russian Federation to Georgia are several decreased comparing with the previous year. Nevertheless, Russia still ranks first among all states from which money is transferred to Georgia.
The West is actively persuading Georgia to impose sanctions against Russia, more about this in the article. “Tbilisi was visited by the sanctions troika”.
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