Credit Institutions in Cyprus

  The banking sector in Cyprus, comprising local banks, subsidiaries and branches of foreign banks, is regulated, supervised and monitored by the Central Bank of Cyprus (CBC). By law, the Central Bank’s main objectives are to preserve stability in the financial sector, maintain price stability, foster economic growth, minimize systemic risk and protect depositors. In its supervisory role, the Central Bank has always been guided by the recommendations of the Basel Committee on Banking Supervision and it implements the EU’s Directives on banking regulation.