12 December 2014

Is there no end to the irresponsibility and arrogance of the Central Bank of Cyprus’ Administrator? He has repeated his trick of a couple of months back, and has departed for an unscheduled, unheralded and apparently unapproved holiday. Once more, he has left no one in his place to sign off payments or approve other branch matters, and he gave no date for  a return. This has effectively caused the Cyprus branch of FBME Bank to close down leading to big problems for customers and staff.

On Tuesday morning, 9 December, the Administrator said he wanted to approve all cheques and transactions by 1.00 pm as he wouldn’t be putting in an appearance the next day, Wednesday the 10th.

Wednesday came and went, then Thursday and Friday 12 December, too, without the Administrator showing up or answering his mobile or other telephones to callers from the Bank.

Where has he gone? No one within FBME knows. Nor do those at the Central Bank of Cyprus, at least as far as they are letting on. Has he gone Christmas shopping, we wonder? He is certainly flush with funds after helping himself to the branch’s money for his salary, thanks to the diktats of the Central Bank of Cyprus.

One thing we would like to be reassured about is that he is not working on his private business or for any other institution. The terms of his appointment make it abundantly clear that he can do no such thing while he is the Administrator of FBME Bank’s Cyprus branch and party to its confidential operational and client information.

Mind, you: he hasn’t paid much attention to the law and the stipulations of his mandate so far!