Georgian National Bank Head Talks Up Women's Influence In Georgia's Financial Domain

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 22. The role of women in Georgia's financial sector, particularly in decision-making processes within banks, has been growing over the last two decades, said Natia Turnava, the Governor of the National Bank of Georgia, Trend reports.

During her speech at the "SHE Congress 2025" event in Baku, Turnava discussed significant advancements in gender representation within the financial industry.

Turnava opened up about her journey as the trailblazing woman who took the reins as chair of the Central Bank, hitting a home run in Georgia's financial saga.

"This also reflects a certain phase in my career. I'm not saying this to gain your praise but to show how much of a gap still exists at such a high level. Despite progress, women remain underrepresented in the financial sector.

What I did-what we did, in fact-was to immediately address this gap. Our board, along with the executive members, is probably one of the most female-dominated leadership teams in the region, if not globally. All of my deputies are women.

Five out of nine members of the Supervisory Board, including myself, are women, with four serving as executive directors. I believe this is the ideal composition, especially in these challenging times, marked by geopolitical risks, market volatility, and inflation shocks. In such an environment, having strong female representation at the decision-making level is crucial. It's well known that women tend to take fewer risks and make more balanced, calculated decisions in managing those risks-exactly the approach we need for our competitiveness.

We often face tough trade-offs, having to choose between productivity, economic support, and controlling inflation. I'm proud to say that, during my tenure, the macroeconomic situation remains stable and relatively positive. I don't want to claim that it's solely the result of our efforts and agenda, but it's likely that it is. Our monetary policy is well-balanced, and we are all aligned in our approach, which is why we must remain cautious and attentive. This careful approach is reflected in the results.

Moreover, our work didn't start just now; since 2022, we've been reformulating the corporate governance code for banks. As you may know, gender inequality persists within the banking sector. We've addressed this issue in the code to ensure that female representation on boards reaches a specific, gradually increasing percentage. We've already raised this mandatory quota from 20 percent to 30 percent," she said.

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