31 October 2015
FBME Bank Limited has initiated plans to migrate deposits held at its Cyprus branch to its head office in Tanzania, in this way opening access for depositors to their funds. This follows a situation where depositors have had their access restricted to a paltry EUR 1,000 a week and in some cases have experienced what is effectively a bar on their accounts on the orders of the Central Bank of Cyprus (CBC), which took control of FBME’s Cyprus Branch in July 2014.
8 October 2015
A proposed amendment to the Cyprus Resolution Law tabled to Parliament’s finance committee this week, shows just how hopelessly wrong and illegal was the Central Bank of Cyprus’s (CBC) implementation of this same Law on the Cyprus branch of FBME Bank in July 2014. At the same time, it points up that the authorities wish the implementation of the Resolution Law in the Republic to become highly selective, thereby heaping discrimination upon injustice.
6 October 2015
Head office employees of FBME Card Services have moved to the newly-constructed FBME building on Georgiou Griva Digeni in Nicosia, becoming the first part of FBME to have done so. Formerly, Card Services occupied premises on Archbishop Makarios III Avenue.