These Guidelines were issued by the Central Bank of Cyprus to all MFIs licensed to operate in Cyprus and their purpose is to implement the provisions of Regulation (EC) No 1893/2006 issued by the European Parliament and the Council on 20 December 2006, establishing the statistical classifications of economic activities “NACE Rev.2” and amending Council Regulation 3037/90 and certain EC Regulations on specific statistical domains.
The objective of the above Regulation is the creation of common statistical standards that enable the production of harmonised data and their compatibility at both EU and international level (as the NACE classifications are directly linked to those adopted by the Statistical Commission of the United Nations).