Georgia’s Parliament is considering legal changes that would hand the National Bank of Georgia (NBG) full control over setting additional remuneration for its board members, ending a decade-long practice of parliamentary oversight.
Since 2015, Parliament has determined supplementary payments for NBG board members. The new draft amendments to the Organic Law on the National Bank would reverse that arrangement, authorising the board to decide its own remuneration structure. The proposal states that any additional payments must not fall below the bank’s average salary level, establishing a floor for compensation.
The NBG board consists of nine members: the President, three Vice-Presidents and five non-executive members. The recent asset declarations shows that the President’s annual salary stands at GEL 349,000, Vice-Presidents earn around GEL 294,000 each and non-executive members receive more than GEL 130,000 per year.
Supporters of the reform argue that allowing the central bank to independently set internal pay rules strengthens its institutional autonomy and operational flexibility. Lawmakers reviewing the proposal say they plan to examine its implications for governance, accountability and transparency before moving toward adoption.
