The new appointments to the Central Bank of Cyprus (CBC) board were formally confirmed on Friday, with Panikos Vakkou taking up his duties as an executive board member and Marios Xenofontos appointed as a non-executive member.

The contracts and appointment documents were signed during a meeting between Finance Minister Makis Keravnos, Vakkou and Xenofontos at the minister’s office.

According to the Finance Ministry, Keravnos wished both officials strength and success in their new duties and assured them that the ministry would remain available to support their work.

He also pledged the ministry’s support for the work of the entire CBC board, within the framework of the excellent cooperation between the Finance Ministry and the central bank.