The Central Bank of Cyprus (CBC) announces that the Resolution Authority, acting in accordance with article 7 (1) of the Resolution of Credit and Other Institutions Laws, 2013 – 2014, has suspended the obligations of the branch of FBME Bank Ltd in Cyprus for two working days, starting from 12 noon on 23 July 2014.
Hence, the branch of FBME Bank Ltd in Cyprus will not execute any client orders for transfers or other payments during the two-day period.
In addition, on 21 July 2014, the Resolution Authority appointed Mr Dinos Christofides as Special Administrator of the branch of FBME Bank Ltd in Cyprus.