Central Bank of Cyprus

The Central Bank of Cyprus, also known as the Central Bank of the Republic of Cyprus (CBC), is the central bank of the Republic of Cyprus. It is responsible for the monetary and financial systems of the country, including the issuance and regulation of currency.

The CBC was established in 1963, shortly after the country gained independence from British rule. It is headquartered in Nicosia and is responsible for the issuance and regulation of the Euro, which is the official currency of Cyprus since 2008. The CBC also issues a variety of other financial instruments, such as bonds and banknotes.

The CBC is also responsible for the regulation of the country’s banking system and oversees the activities of all financial institutions operating in Cyprus. It also licenses and supervises money services businesses and securities dealers.

The CBC is also involved in the development of new products and technologies to improve the country’s monetary and financial systems. For example, the bank has introduced new anti-counterfeiting technologies such as micro-engraving and holographic images to protect its currency from counterfeiting.

The CBC is also involved in promoting the culture and history of Cyprus through its currency designs. Many of the designs on its banknotes feature traditional Cypriot symbols and motifs, such as historical figures, landmarks and national parks.

In summary, the Central Bank of Cyprus (CBC) is the central bank of the Republic of Cyprus and responsible for the monetary and financial systems of the country, including the issuance and regulation of the Euro. The CBC also regulates the banking system and oversees the activities of all financial institutions operating in Cyprus. It is involved in developing new products and technologies to improve the country’s monetary and financial systems and promoting the culture and history of Cyprus.

Content updated 1/25/23

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