MPs say trying to protect small businesses from unfair bank contracts
The House commerce committee is trying to afford small businesses protection from unfair terms and conditions included in standard bank contracts through a bill on...
banks
Opposition seeks to beef up watchdog’s role in banks
An opposition party said Monday it will table a bill that would make decisions taken by the financial ombudsman legally binding on banks. Angelos Votsis,...
Lawmakers welcome first court ruling against bank
Lawmakers on Thursday welcomed the first court judgment against a bank for unfair terms of contract, but still harangued the banks for acting with “impunity”...
Borrowers who suspended their loans are restructuring
Many borrowers who opted to use a scheme suspending loan payments for nine months in a bid to cope with the financial fallout of the...
Discussion of bill to protect consumers from banks begins
The House commerce committee on Tuesday began discussion of a bill designed to protect consumers from unfair terms included in bank contracts but also bad...
Rejection of budget jeopardises recovery planning, Central Bank warns
The Central Bank of Cyprus (CBC) said on Wednesday that the rejection of state budget for 2021 by the parliament was a negative development that...
MPs extend freeze on foreclosures until next March
The House on Thursday passed an amendment to the law extending a freeze on property foreclosures until the end of March 2021. The foreclosures to...
MPs urge banks to be lenient with stricken SMEs
MPs urged banks on Tuesday to show sensitivity towards stricken small and medium businesses (SME), as lenders show reluctance to lend money amid the coronavirus...
Coronavirus: ATMs for all transactions below 500 euros says Hellenic Bank
Hellenic Bank announced that key services will be changing from Monday, stating that customers will have to use ATMs for cash withdrawals for amounts less...
Finance ministry warns against any more changes to foreclosure processes
Any extension of the freezing of foreclosures until the end of the year or beyond, would bring potential negative effects and disproportionate costs to both...
The challenges facing the banking and financial sectors
By Andreas Charalambous and Omiros Pissarides The well-known economist Rüdiger Dornbusch argued that a crisis takes a long time to materialise but it then happens...
Banks warn suspending foreclosures could do more harm than good
Banks have warned that suspending foreclosures would do more harm than good as opposition parties were poised to do just that, tabling five bills citing...
Five separate bills freezing foreclosures to be discussed at House finance committee
Five bills tabled by various political parties with the central focus of freezing foreclosures will be discussed on Monday at the House Finance Committee. The...
Complexity of law amendment sees finance committee pass it over to legal affairs
Lawmakers on Tuesday decided to transfer to the House legal affairs committee a government bill amending the Law of Evidence, which would grant credit-acquiring companies...
Georghadji hits out, says efforts afoot to discredit PEP list
Former central bank governor Chrystalla Georghadji hit back on Thursday at detractors of a list of names of politically exposed persons (PEPs) with non-performing loans,...
PEPs list returned to House, back and forth continues
A controversial list of politically exposed persons (PEPs) and the money they owed banks, including bad debts, has been sent back to parliament after the...
Paphos communities to protest bank closures
Residents of twenty Paphos communities are protesting the closure of bank branches in their area on Tuesday afternoon, urging lenders to keep the local branches...
Greek depositors say ICSID battle looming for Cyprus
Cyprus’ state legal service has said the claims of over 900 Greek nationals seeking compensation for the money they lost in the 2013 haircut on...
Coronavirus: almost €900m in loan installments in abeyance, due at year’s end
Some €894m worth of instalments will not be paid to banks until the end of the year on close to €7.4bn in loans, as part...
E-signatures on the way, innovation minister says
After years of dragging its feet and now forced by the coronavirus crisis to implement e-government as soon as possible, the government will soon be...