The major issue that dominates today’s financial press is Central Bank’s conduct of investigation against the commercial banks, after the Parliamentary Sub-committee of Audit and Finance addressed relevant complaints concerning fund exports during 1999 on behalf of several listed companies or other individuals, ignoring the Central Bank regulations.
The “Economy” inset of newspaper “Phileleftheros” under the title “Banks ignore the Central Bank” mentions that if banks were engaged in illegal acts, it could also mean that their operating license will be removed. When the chairman of the Parliamentary Sub-committee of Audit and Finance, Georgos Georgiou, was asked whether the aforementioned sums reach million of pounds, Mr. Georgiou replied that “we are definitely not talking about a few hundred pounds”. The newspaper also points out that the former Governor of the Central Bank, Afxentis Afxentiou – who was present at the convention – avoided to comment on the issue, saying that he would do this after the completion of the investigations by the Central Bank.
The newspaper “Alithia” under the title “Banks accused for exporting CSE funds” deals with the Central Bank’s investigation against the commercial banks. According to the report, Mr. Georgiou has stated that “the Central Bank is now expected to confirm the complaints”, while during the convention the former Central Bank Governor, Afxentis Afxentiou, rejected all accusations for not exercising his supervisory duties properly.
The newspaper “Xaravgi” under the title “Suspicions for illegal fund exports” refers to Mr. Georgiou statements that several commercial banks did not submit the relevant documents to the Central Bank when they were exporting funds overseas. The report also highlights that several listed companies proceeded to a fund export through the banks, ignoring the Central Bank procedures for acts concerning million of pounds.
When Mr. Georgiou was asked if there is a possibility that the Central Bank did not perform its supervisory duties properly, he avoided the question stating that punishment could also mean removal of operating licenses from the commercial banks is fairly likely.
The “Economy” inset of newspaper “Simerini” refers to the conflict between PASEHA and the Commercial Bank Association concerning the complaints over the “traps” set by the banks against unsuspicious investors.
The “Economy” inset of newspaper “Phileleftheros” under the title “Banks ignore the Central Bank” mentions that if banks were engaged in illegal acts, it could also mean that their operating license will be removed. When the chairman of the Parliamentary Sub-committee of Audit and Finance, Georgos Georgiou, was asked whether the aforementioned sums reach million of pounds, Mr. Georgiou replied that “we are definitely not talking about a few hundred pounds”. The newspaper also points out that the former Governor of the Central Bank, Afxentis Afxentiou – who was present at the convention – avoided to comment on the issue, saying that he would do this after the completion of the investigations by the Central Bank.
The newspaper “Alithia” under the title “Banks accused for exporting CSE funds” deals with the Central Bank’s investigation against the commercial banks. According to the report, Mr. Georgiou has stated that “the Central Bank is now expected to confirm the complaints”, while during the convention the former Central Bank Governor, Afxentis Afxentiou, rejected all accusations for not exercising his supervisory duties properly.
The newspaper “Xaravgi” under the title “Suspicions for illegal fund exports” refers to Mr. Georgiou statements that several commercial banks did not submit the relevant documents to the Central Bank when they were exporting funds overseas. The report also highlights that several listed companies proceeded to a fund export through the banks, ignoring the Central Bank procedures for acts concerning million of pounds.
When Mr. Georgiou was asked if there is a possibility that the Central Bank did not perform its supervisory duties properly, he avoided the question stating that punishment could also mean removal of operating licenses from the commercial banks is fairly likely.
The “Economy” inset of newspaper “Simerini” refers to the conflict between PASEHA and the Commercial Bank Association concerning the complaints over the “traps” set by the banks against unsuspicious investors.
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