The average monthly number of individuals and companies registered for issuing bounced cheques fell sharply in 2025, when compared with 2024, according to the Central Bank of Cyprus (CBC).

The CBC reported that the average monthly number of registrations dropped by 47 per cent in the main file and by 23 per cent in the preliminary list of the Central Information Register (CIR).

More specifically, average monthly registrations of natural and legal persons stood at 9 in the main file and 10 in the preliminary list in 2025, compared with 17 and 13 respectively in 2024. 

According to the report, the figures reflect the continued decline in the use of cheques as a means of payment, as well as a broader shift in the market towards electronic transactions. 

At the same time, the report said 19 sessions of the competent committee were held in 2025, during which 202 requests for the deletion of natural and legal persons were examined.

These requests were submitted either by the registered persons themselves or by their authorised representatives.

In addition, the same sessions examined 15 requests for the release of funds from accounts frozen due to CIR-related measures, following requests by the authorised credit institutions where the accounts were held and the submission of the necessary supporting documents.

Finally, the report said the main objective for 2026 is to launch a project to replace the existing CIR electronic system with a new one designed to meet current technological and regulatory requirements.