National Bank Suspends Board Member Nana Keinishvili Over Alleged Misconduct
By Messenger Staff
Monday, October 12, 2026
The National Bank of Georgia has suspended board member Nana Keinishvili from participating in board activities pending an investigation into allegations that she demanded a stake in cryptocurrency company Bitexchange in exchange for protection and assistance with expanding its business, according to a report by Radio Liberty.
In a statement, the National Bank said it "fully dissociates itself" from the alleged violations and stressed that Keinishvili acted alone. The board unanimously decided to suspend her participation until the investigation concludes and the facts are established.
The bank said a covert audio recording made by a company representative supports its position, adding that Keinishvili spoke personally about her plans and objectives.
The National Bank also said supervision of virtual asset service providers did not fall within Keinishvili's area of responsibility and that she could not have influenced decisions concerning the company. Inspections of supervised entities are strictly confidential, with access limited to the relevant team, the statement said.
The bank added that Keinishvili was a non-executive board member with no role in day-to-day executive management or operational decision-making.
According to Radio Liberty, Bitexchange's owner refused Keinishvili's alleged demand for a stake in the business, after which the National Bank inspected the company and imposed a fine of GEL 572 million.
The outlet reported that the alleged demand was captured in a covert audio recording made in 2024 in coordination with the State Security Service. Bitexchange reportedly handed the recording to the Service, but no legal action had followed at the time of the report.
Radio Liberty also alleged that Keinishvili and members of her family own and manage profitable businesses regulated by the National Bank, potentially violating legal restrictions on the business activities of senior bank officials. Documents obtained by the outlet reportedly indicated that the National Bank and the State Security Service had been aware of the alleged violations for several months.
Radio Liberty said it sent questions to the relevant agencies on October 6 but received no direct responses within three days. The National Bank and the Chief Prosecutor's Office subsequently announced an investigation into Keinishvili's alleged involvement in illegal entrepreneurial activity. At the time of the report, the agencies had not directly addressed the specific corruption allegations.
