The Central Bank of Cyprus believes that the bill regulating the securitization and sale of loans will be approved and tabled before the parliament within the planned time frame.
The bill is expected to be approved by the Cabinet at the end of the month.
The House Finance Committee discussed the draft law of DIKO President, Nicolas Papadopoulos for an extension of the lifting of loan sales ban until July 10, since the last extension given by the parliament expires on June 26.
CB spokeswoman Mary Kyriakidou noted that the CB has prepared a draft law which has been submitted to the Finance Ministry.
She noted that the bill has been forwarded by the Ministry to the legal service for technical- legal review, stressing that “we will be within the time frame”.
According to Ms. Kyriakidou, the completion of the technical legal review is a matter of the legal service.
She emphasized that the bill is not complicated, is of 20 pages and is within the framework that has been discussed.
The bill is expected to be approved by the Cabinet at the end of the month.
The House Finance Committee discussed the draft law of DIKO President, Nicolas Papadopoulos for an extension of the lifting of loan sales ban until July 10, since the last extension given by the parliament expires on June 26.
CB spokeswoman Mary Kyriakidou noted that the CB has prepared a draft law which has been submitted to the Finance Ministry.
She noted that the bill has been forwarded by the Ministry to the legal service for technical- legal review, stressing that “we will be within the time frame”.
According to Ms. Kyriakidou, the completion of the technical legal review is a matter of the legal service.
She emphasized that the bill is not complicated, is of 20 pages and is within the framework that has been discussed.
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