Cyprus Central Bank amends AML and Terrorist Financing Directive PUBLISHED ON 21/04/2016
The Central Bank of Cyprus has amended its AML and Terrorist Financing Directive, which is based on the provisions of the respective EU Directive, by enhancing the KYC requirements for commercial banks, requiring them “to ensure, through their own procedures the verification of the identity and economic profile of their customers.” The CBC has also […]
Cyprus successfully exits IMF Bailout PUBLISHED ON 15/04/2016
Cyprus has successfully exited 10 billion Euro bailout programme before its term and without any successor arrangement. Cyprus has successfully managed to outperform its fiscal targets; in fact the country has used only €7,5 billion from the total of €10 billion financial aid package granted from the Troika international creditors: the International Monetary Fund (IMF), […]
Cyprus-Iran Forum: Banking, Trade and Investments PUBLISHED ON 05/03/2016
A forum was organised in Iran’s efforts to re-enter markets, with the participation of a large number of high-rank Iranian officials and bank representatives. Iranian speakers on the forum held on 04.03.2016 in Larnaca, Cyprus provided insight information about the commitment of Iran to get back to the markets. Stefan Nolte and Morvarid Homayoon attended […]