THE THIRTY FIFTH Decree on the enforcement of restrictive measures was published in the Cyprus Gazette early today, providing for an increase on the transfer of deposits outside the country from €50,000 to €1,000,000 a month.
However, the restrictive measure prohibiting the export of Euro...
PARLIAMENT urged the government on Wednesday to find a solution for people who bought houses from insolvent developers without acquiring title deeds and who risk losing their properties even though they may have already paid for them in full.
The issue was raised during discussion of a bill tabled...
THE FIFTH and final bill of the insolvency framework, a crucial element for the implementation of the foreclosures legislation, will be discussed at a joint meeting of the House Finance and Interior committees today.
Ruling DISY party MP Andreas Kyprianou said that the bill satisfies many of the...
THE CABINET has approved the last of the five bills comprising the insolvency framework, which includes details of guarantors’ obligations in respect of the debt.
The final bill, which was approved on Friday, covers personal repayment schemes (consensual or imposed), which protects primary...
BANK OF CYPRUS’ problematic housing loans account for approximately €1.2 billion (9.4%) of its total non-performing loans of €12.7 billion and just 10.2% of its non-performing loans in Cyprus.
According to the bank’s preliminary results, housing loans are its best performing category...
