CBC says no Iran ban but risk evaluation a must

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CBC says no Iran ban but risk evaluation a must
 © BusinessMail 2017
By Stelios Orphanides

The Central Bank of Cyprus said that while it has no restrictions in place concerning business ties to Iran, including the opening of bank accounts at Cypriot banks by Iranians and transactions, banks should proceed after evaluating related risks and always stick to the law.

“It is up to every bank to decide, after evaluating the risks involved in each case it wants to assume and is prepared to handle in the context of the legal and supervisory framework,” the central bank said in a statement on its website on Thursday. “What the Central Bank of Cyprus demands...


CBC says no Iran ban but risk evaluation a must


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