24 August 2018
The Supreme Court of Cyprus has unanimously dismissed an appeal by the Central Bank of Cyprus (“CBC”) and the Resolution Authority against an earlier court decision which ruled that the Central Bank was not legally justified when it attempted to liquidate FBME Bank Ltd registered in Tanzania.There has notably been very little press coverage of this decision, which is in keeping with the negative portrayal of FBME Bank Ltd in the media. We therefore wish to update depositors on this development and confirm that we are doing everything in our power to ensure the return of their deposits.
