AG asked cabinet to reconsider Co-op stock donation, auditor says

By Stelios Orphanides

The Auditor-general’s office said that it asked for the revocation of the cabinet’s May 2017 decision to donate a quarter of a state-owned bank stock to its customers.

“We proposed that the Finance Minister submits with no delay a proposal to the council of ministers for the cancellation of its decision to donate shares as on top of violating a number of laws and probably the very constitution, it is problematic and seriously harms the interests of the Cyprus Cooperative Bank,” the Audit Office said in its 2016 special audit report for the finance ministry...


AG asked cabinet to reconsider Co-op stock donation, auditor says


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