Cyprus currency controls abolished

Capital controls which were put in place in March 2013 to prevent the outflow of funds from Cyprus, have been gradually relaxed over the past two years leading to the total abolition of any remaining controls via a Government announcement on 3 April.

There are now no restrictions on the transfer of funds.  This is seen as a very positive move as the recapitalisation of the Cyprus banking system has been carried out successfully and further confirms the progress made during the last two years in both the Cyprus banking industry and the Cyprus Economy.

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