Cyprus Finance Ministry ready to lift restrictions on foreign banks

26.04.2013 14:37
Cyprus Finance Ministry ready to lift restrictions on foreign banks

YEREVAN, April 26. /ARKA/. Cyprus Finance Ministry issued a decree that allows you to bring in the country are foreign financial institutions from the application of measures restricting banking, ypLive. Com reports.

To this end, according to the decree, international banks have to meet certain requirements, in particular relating to the availability of liquidity and credit portfolio. They also have to register and enter in the "Catalogue of credit institutions, compiled by the Ministry with the advice and consent of the manager of the Central Bank."

The Central Bank may, if necessary, ask the bank's auditors to confirm in writing compliance with the credit institution all specified conditions. In addition, foreign banks must submit their list of international clients, which are also subject to the approval of the Ministry of Finance. –0—


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