MONDAY, 13 JUL 2020

 

CONNECT

Facebook Linked In Twitter
Compliance_29/01-24/09_728x90px
GloriaJeans_266x90px
IMH LTD

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

IMH LTD

SERVICES

brought to you by Barclays

Cyprus Banking Delegation Completes Successful United States Visit

Cyprus Banking Delegation Completes Successful United States Visit

A senior delegation from the Association of Cyprus Banks (ACB) has recently completed a successful visit to the United States, during which it met with senior U.S. government officials, important U.S. financial industry regulators, Members of the U.S. Congress and their key staff, global banking institutions, academics, and the financial media. The delegation consisted of senior executives from the two largest ACB member banks: Marios Skandalis - Bank of Cyprus and Matheos Charalambides - Hellenic Bank.

Building on the relationships established during the first ACB visit to the U.S. in June 2018, this year’s trip served to reaffirm to critical U.S. audiences Cyprus banking sector’s commitment in adhering to high standards of combating financial crime, and to present the effective comprehensive review of the extensive financial reforms that have been implemented in Cyprus since the financial crisis. The delegation particularly noted recent external validation of Cyprus’s progress, including assessments by the 2019 U.S. Department of State International Narcotics Control Strategy Report (INCSR); U.S. Treasury Department Assistant Secretary Marshall Billingslea, who said Cyprus has made “enormous progress and improvements”; the ranking of Cyprus on the Corruption Perception Index; and a Transparency International AML Transparency Measures and Quality of Reporting survey. Updates on the economic recovery in Cyprus and the reduction in non-performing loans across the banking sector were also shared.

Throughout the ACB’s series of meetings over the course of a week, the delegation sought to strengthen Cyprus’s partnership with U.S. regulators, further collaboration with the U.S. on AML issues affecting both countries, and reinforce and expand correspondent banking relationships.

In Washington, D.C., the delegation met with leading policymakers and regulators at the U.S. Department of the Treasury and the U.S. Department of State; officials of the Embassy of the Republic of Cyprus; and senior staff of the Senate Foreign Relations Committee, Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Armed Services, House Foreign Affairs Committee, and the Congressional Hellenic Caucus. The ACB officials also participated in two high-profile public events, each one hosted by a prestigious U.S.-based think tank, the Hudson Institute and the Atlantic Council.

In New York City, the delegation met with representatives from the New York State Department of Financial Services; several U.S.-based global banks, and financial media.

The ACB is committed to building upon the foundation laid during this productive trip to further enhance its partnership with U.S. banks and banking regulators, and to align the global understanding of the Cypriot economy and financial sector with the reality of the range of effective and in most cases model reforms put in place by the Cypriot government and banking sector over the past few years.

MORE ON SERVICES

FROM AROUND GOLDNEWS

   

Increase in Education Staff Under Government Employment For June 2020

According to a press release by Cystat, in June 2020, total government employment increased by 15 persons in comparison to the corresponding month of 2019 and ...
   

Cyprus Marine Club Announces New Board Of Directors

The Annual General Meeting (AGM) was opened by Secretary General, Julia Paczkowska and then followed by Capt. Koch, Cyprus Marine Club ...
   

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

Cyprus’ Minister of Foreign Affairs Nikos Christodoulides will be in Brussels today to participate in the EU Foreign Affairs Council, which for the first ...
   

Wizz Air Abu Dhabi Announces New Route To Larnaca

Wizz Air Abu Dhabi, the newest national airline of the United Arab Emirates, announced today a highly anticipated route from Abu Dhabi to Larnaca starting on ...
   

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Any prospects for the resumption of UN-led talks for a settlement to the Cyprus problem would require the termination of the Turkish provocative violations of ...
   

CSR During a Pandemic

Katerina Biloruska, Chairwoman of the non-profit Parimatch Foundation, explains how it has helped in the fight against COVID-19, whilst staying true to its ...
   

John Lewis to Close Eight Stores Permanently

John Lewis has announced it is permanently closing eight of its stores, putting 1,300 workers at risk, the BBC reports. The retailer said it had to ...
   

House Prices up by 1.1% in Cyprus in Q1 2020

House prices, as measured by the House Price Index, rose by 5.0% in the euro area in the first quarter of 2020 compared with the same quarter of the previous ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Cyprus_Investors_08/07-16/09_300x250px
GloriaJeans_300x250px

IMH LTD