The Central Bank of Cyprus announces that banks throughout Cyprus will operate under normal business hours to serve our citizens and to answer questions related to the revised capital control measures which went into effect on Friday, 29 March 2013.
While these capital control measures are difficult for all of us, the promise of an improved economic environment can be realized if we work together and understand the necessity of these actions. The capital control measures apply to ALL banks and are exceptional, non-discriminatory, temporary and critical to regulate the flow of capital throughout the country. Each day, we will measure and look to refine or relax these controls with the overriding goal of safeguarding and stabilizing the Cypriot financial system.
In order that you may be informed, staff at the Central Bank of Cyprus have created Q&A guides that will help you to understand the temporary guidelines and procedures that we will need to follow. The Q&A material is now posted on our website and should answer most of the questions that you have. To help you understand the changes and how they affect you, a short guide is also available from your local bank branch and online. This should answer most of the questions you have. The Central Bank of Cyprus is working with all the banks to ensure accurate information is available in the branches throughout Cyprus.
As new questions are received and modifications are made to the existing capital control requirements, we will update the Q&A material on our website.