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Cyprus PIO: News Update in English, 02-04-11
From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
Thursday, 11 April 2002
CONTENTS
- [01] Memorandum of Understanding on mutual co-operation between Cyprus and
Romania
- [02] Presentation of Credentials
[01] Memorandum of Understanding on mutual co-operation between Cyprus and
Romania
The Central Bank of Cyprus and the National Bank of Romania have today
signed a Memorandum of Understanding on mutual co-operation and exchange of
information in the field of banking regulation and supervision. The Central
Bank of Cyprus and the National Bank of Romania are the competent
authorities, in their respective countries, for the licensing, regulation
and supervision of banks aiming at the reliability and efficiency of their
banking systems.
The Memorandum of Understanding has been signed on behalf of the Central
Bank of Cyprus by its Governor Mr. Afxentis Afxentiou and on behalf of
National Bank of Romania by its Governor Mr. Mugur Constantin Isarescu. The
signing took place at the premises of the Central Bank of Cyprus this
morning in the presence of His Excellency the Ambassador of Romania in
Cyprus Mr. Costin Georgescu.
The Memorandum of Understanding will strengthen the bilateral ties in
banking supervision between the two authorities and establish a general
framework of mutual co-operation and exchange of information with a view of
facilitating the performance of their cross-border regulatory and
supervisory functions and responsibilities, in accordance with their
respective laws and regulations.
Similar Memoranda of Understanding in the field of regulating and
supervising the activities of cross-border banks have already been signed
with the Central Bank of the Russian Federation, the Bulgarian National
Bank, the National Bank of Ukraine, the National Bank of the Republic of
Belarus and the National Bank of Yugoslavia. Moreover, negotiations are
currently being carried out with another nine overseas banking supervisory
authorities for the signing of similar documents.
[02] Presentation of Credentials
The Ambassador of Cyprus to Egypt, Mr Phaedon Anastasiou presented his
credentials to the President of Egypt Mr Mohamed Hosni Mubarak, as the new
ambassador of the Republic of Cyprus to Egypt during a ceremony at the
Presidential Palace on 9 April. Present at the ceremony were the Egyptian
Foreign Minister Mr Ahmad Maher and the Director of the Presidential Palace
Dr Zakareyia Azmi.
Prior to the ceremony, Mr Anastasiou had a meeting with Mr Maher during
which they reaffirmed the traditional relations of Cyprus and Egypt and the
wish of the two countries for further cooperation in all sectors.
Mr Maher expressed the intension and readiness to support Mr Anastasiou in
the success of his mission. On his part, Mr Anastasiou assured the Egyptian
Foreign Minister that he would put every effort into his mission,
underlining the great importance Cyprus places on the cooperation with
Egypt.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
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