Cyprus Mail

Value of bounced cheques half that of last year’s



The value of bounced cheques reported in the first nine months of 2020 stood at €557,358 – half that for the same period the previous year, the Cyprus News Agency reports citing figures published by the Central Bank of Cyprus on Monday.

It said that 44 bounced cheques with a total value of €33,655 were included on the provisional list of the Central Bank of Cyprus’ CIR (central information register for issuers of dishonoured cheques) in September. This is compared to 77 cheques with a total value of €140,864 in the same month last year and 39 cheques with a value of €75,840 in August 2020.

The September cases involve six individuals and 12 companies. Overall, since the start of the 2020, 88 individuals and 112 companies have been added to the provisional list of the CIR.

For the first nine months of 2020, the total value was €557,358, compared to €1,140,951 in the corresponding period the previous year.

CNA adds that 18 names (five individuals, six companies and seven individuals who control companies) were added to the actual CIR in September, just one more than in August but less than half the 41 recorded in September last year.

For the nine months of 2020, the total number of names added to the CIR was 142.

Last March, the Central Bank had announced relaxations to the rules because of the coronavirus crisis.

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