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Cyprus PIO: News Update in English, 02-04-11Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next ArticleFrom: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>Thursday, 11 April 2002CONTENTS[01] Memorandum of Understanding on mutual co-operation between Cyprus and RomaniaThe Central Bank of Cyprus and the National Bank of Romania have today signed a Memorandum of Understanding on mutual co-operation and exchange of information in the field of banking regulation and supervision. The Central Bank of Cyprus and the National Bank of Romania are the competent authorities, in their respective countries, for the licensing, regulation and supervision of banks aiming at the reliability and efficiency of their banking systems.The Memorandum of Understanding has been signed on behalf of the Central Bank of Cyprus by its Governor Mr. Afxentis Afxentiou and on behalf of National Bank of Romania by its Governor Mr. Mugur Constantin Isarescu. The signing took place at the premises of the Central Bank of Cyprus this morning in the presence of His Excellency the Ambassador of Romania in Cyprus Mr. Costin Georgescu. The Memorandum of Understanding will strengthen the bilateral ties in banking supervision between the two authorities and establish a general framework of mutual co-operation and exchange of information with a view of facilitating the performance of their cross-border regulatory and supervisory functions and responsibilities, in accordance with their respective laws and regulations. Similar Memoranda of Understanding in the field of regulating and supervising the activities of cross-border banks have already been signed with the Central Bank of the Russian Federation, the Bulgarian National Bank, the National Bank of Ukraine, the National Bank of the Republic of Belarus and the National Bank of Yugoslavia. Moreover, negotiations are currently being carried out with another nine overseas banking supervisory authorities for the signing of similar documents. [02] Presentation of CredentialsThe Ambassador of Cyprus to Egypt, Mr Phaedon Anastasiou presented his credentials to the President of Egypt Mr Mohamed Hosni Mubarak, as the new ambassador of the Republic of Cyprus to Egypt during a ceremony at the Presidential Palace on 9 April. Present at the ceremony were the Egyptian Foreign Minister Mr Ahmad Maher and the Director of the Presidential Palace Dr Zakareyia Azmi.Prior to the ceremony, Mr Anastasiou had a meeting with Mr Maher during which they reaffirmed the traditional relations of Cyprus and Egypt and the wish of the two countries for further cooperation in all sectors. Mr Maher expressed the intension and readiness to support Mr Anastasiou in the success of his mission. On his part, Mr Anastasiou assured the Egyptian Foreign Minister that he would put every effort into his mission, underlining the great importance Cyprus places on the cooperation with Egypt. From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article |
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