11 December 2015
FBME Bank has strongly rejected the supposed evidence that the Central Bank of Cyprus (CBC) has claimed to have found of failings in its anti-money laundering (AML) and CTF procedures and will be looking for legal redress against the imposition of CBC’s proposed fine.
8 November 2015
Thanks to the US judicial process, FinCEN has been blocked from implementing a sanction that threatened to destroy FBME even though FBME has always worked to address any issues identified by regulators or auditors. Without the rulings of Judge Cooper, FinCEN could have wiped the Bank out based on supposed evidence that FinCEN insisted on keeping secret, despite having no valid basis to withhold it.
FBME Bank Limited wants nothing more than the chance to confront at least some of the secret evidence to clear its name, and to protect its employees and customers.
6 November 2015
Sources opposed to the actions taken by a small group of Central Bank of Cyprus (CBC) officials against FBME Bank Limited, have warned that the CBC is planning to attempt a liquidation of the Cyprus branch of FBME, following the announcement by FBME of its decision to migrate certain accounts from its branch in Cyprus to its head office in Tanzania. The aim is to get the CBC out of its self-imposed dangerous predicament. If implemented, this hazardous and illegal measure will be opposed with the full force of the law.
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.
16 September 2015
In its Award signed on 10 September 2015, an Arbitral Tribunal of the International Chamber of Commerce (ICC) in Paris decided it has jurisdiction over the claims by the owners of FBME Limited (the Claimants) against the Republic of Cyprus (the Respondents) regarding the Lebanese-Cyprus Treaty governing the protection of investor rights.
28 August 2015
On 27 August, the United States District Court for the District of Columbia granted a preliminary injunction against FinCEN and other US Defendants to prevent the Final Rule from taking effect until the Court enters a final judgment on the merits, as requested by FBME Limited and FBME Bank Limited. Further information is available on the District Court’s order by clicking here.
27 July 2015
FBME Limited has studied the final rule of the Financial Crimes Enforcement Network (FinCEN), released on 23 July 2015, and has issued the following statement:
24 July 2015
FBME Limited announces that it rejects the Final Rule made public yesterday, 23 July 2015, by the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury. This Final Rule fails to give appropriate weight to the evidence of forensic investigations and reports, and makes allegations which FBME Limited says are unwarranted.
