Banking System and Bank of Cyprus

The banking system in Cyprus is modeled on the British banking system. Monetary policy and issues credit and debit balances are within the competence of the Central Bank of Cyprus.

Commercial banks operating on the island, are very active: each of them strives to provide innovative services in a competitive environment. Despite the fact that over the past 25 years, requests of their customers is constantly growing, banks are always able to anticipate the expectations of the business. Today, banks in Cyprus operate in all possible electronic tools used by financial institutions of the best in the world.

The island has 30 representative offices of international banks, Cyprus became the financial center of the region. The attractiveness of the republic, among other things, ensured transparency of the legal system - a factor important for the international financial institutions. Representation of the major banks have to work fully, and not act as a small office staffed by a couple of employees. 


They provide a deal with non-residents of Cyprus and transactions in foreign currency. Typically, the license for international banking operations on the island are only branches and representative offices of banks headquartered in countries with well-functioning system of financial control. No less important is a good reputation at international level.Remarkable and original Austrian banking system.What is the European banking system?