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 | Main » 2009 » July » 31
By Stefanos Evripidou
Minister plans sweeping changes to property law
THE INTERIOR Minister yesterday announced a series of measures, including a town planning amnesty, to untie the “Gordian knot” keeping 130,000 properties on the island without title deeds.
Neoclis Sylikiotis said yesterday the ministry had taken action to counter “malevolent” foreign press reports about the title deeds saga. He attributed the reports to ‘ulterior motiv... Read more »
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By Charles Charalambous
ALTHOUGH the property industry has welcomed the radical reform of the whole system for approving and registering built property and issuing title deeds, questions remained yesterday as to how many individual title deeds will not be issued because of a developer’s inability to pay off mortgages on the land.
“A market that is slow and illiquid will not be improved by legislation. It needs a solution to the fact that there are developers who are over-extended and banks ... Read more »
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Note: The Regulations on the Establishment and Operation of the Deposit Protection Scheme have been amended on 24 July 2009, in accordance with which the following changes were introduced:
- The maximum amount of compensation per depositor per bank has increased from €20.000 to €100.000
- All currencies of deposits are now covered whereas before only the currencies of member states of the EU were covered
- The coinsurance has been abolished and, therefore, claims up to €100.000 are fully reimbursed (whereas before only 90% of the claims was covered)
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The Polish Financial Supervision Authority and the Central Bank of Cyprus, expressing their mutual interest and willingness in promoting further the bilateral ties in the domain of supervision of credit institutions, have recently signed a Memorandum of Understanding.
The Memorandum of Understanding has been signed on behalf of the Polish Financial Supervision Authority, by its Chairman, Mr Stanislaw Kluza and, on behalf of the Central Bank of Cyprus, by its Governor, Mr. Athanasios Orphanides.
The Memorandum of Understanding defines a general framework of mutual cooperation and exchange of information between the two supervisory authorities, for the purpose of facilitating the performance of their supervisory function as well as the effective supervision and regulation of credit institutions, in accordance with the resp... Read more » |
The Guernsey Financial Services Commission (“GFSC”) and the Central Bank of Cyprus, expressing their mutual interest and willingness in promoting further the bilateral ties in the domain of supervision of credit institutions, have recently concluded a Memorandum of Understanding.
The Memorandum of Understanding has been signed on behalf of the GFSC, by its Director General, Mr. Nik van Leuven and, on behalf of the Central Bank of Cyprus, by its Governor, Mr. Athanasios Orphanides.
The Memorandum of Understanding defines a general framework of mutual cooperation and exchange of information between the two supervisory authorities, for the purpose of facilitating the performance of their supervisory function as well as for the effective supervision and regulation of credit institutions with cross border presence, in accordance with the respectiv... Read more » |
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Friday, 2010-07-30, 2:42 Am