According to a release by Central Bank of Cyprus, the CB and the Malta Financial Services Authority signed a Memorandum of Understanding in order to establish and promote bilateral ties in the sector of supervision of credit institutions.

As the CNA reports, the Memo was signed between the CB Governor, Athanasios Orphanides and the Chairman of the Maltese Authority, Joe V. Bannister.

“The Memorandum of Understanding defines a general framework of mutual cooperation and exchange of information between the two authorities with a view to facilitating the consolidated supervision of cross-border establishments and ensuring the safe and sound functioning of credit institutions in the respective countries, in accordance with their national laws and regulations”, the press release noted.