Parliament on Monday will hold an extraordinary session to discuss the president’s referral of a law passed on December 5 to limit large cash transactions. 

The plenary session is set for 11:30 am, while at 10:30 am the house ethics committee will meet on the same issue, at whose meeting the Minister of Finance and the Attorney-General have been invited to attend.

It is noted that the law referred by President Nikos Christodoulides was passed following a legislative proposal by opposition Disy MP and Chairman of the committee, Demetris Demetriou.

Specifically, the law aimed at adopting certain provisions of European Regulation (EU 2024/1624) on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing, according to which, persons trading goods or providing services may receive or make payment in cash only up to the amount of ten thousand euros or the equivalent in national or foreign currency.