Parliament passed a bill on Friday to create a solidarity fund for depositors and bondholders affected by the bank haircut in 2013.
The bill was put forward by the Disy, Diko, and the Solidarity party, and includes two proposed laws.
The one proposal concerns the modification and redefinition of the operation, purpose and foundations of the National Solidarity Fund, while the second proposed that the state hand over government property to the fund.
The head of the house finance committee, Angelos Votsis said that the government was convinced to give €103 million in property and €55 million in funds.
However, the bill will not stop any cases brought to court by the depositors.
Akel MP, Stephanos Stephanou said that the government was lying and that the taxpayers would be required to pay for the fund.
He added that he was afraid millionaires would be benefitted by the bill, and that they were picking and choosing what was compatible with the constitution.