Starting July 1, Lombards will be prohibited to mortgage the property given as security by customers ‘ndash; the new regulation will be activated after making a change into the corresponding law of National Bank of Georgia (NBG). The NBG explained that Lombards will retain the right to mortgaging their assets to obtain loans. The amendment aims at protection of consumers’ rights since mortgaging the property given as security by other persons was increasing the risk of losing the property and was dragged the process of returning the property after covering the financial liabilities by a customer. The bank also clarified that the proposed change does not mean limiting the access to resources of Lombards but envisages the transformation of the crediting system onto civilized standards. source: 1TV/ 1tv.ge