Cyprus has further relaxed restrictions on foreign banks that were imposed after the debt-laden country sought the $30 billion bailout.
Eight more foreign banks - the Bank of Beirut SAL, Banque SBA, Barclays Bank PLC, Banque BEMO SAL, BBAC SAL, Credit Libanais SAL, Jordan Ahli Bank plc and Privatbank - have now been excluded from control on transactions with international customers.
Twenty-seven foreign banks are operating in Cyprus. Earlier, BLOM Bank SAL, Lebanon and Gulf Bank SAL, OJSC Promsvyazbank and Russian Commercial Bank (Cyprus) Ltd. were relaxed of these controls.
In order to be excluded from restrictions, a bank has to be more than 50 percent owned by a foreign bank which should be able to guarantee that it can support the liquidity position of the subsidiary.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.