Financial and Banking News
Vnesheconombank Gets Cyprus OBU
The Soviet Bank for Foreign Economic Affairs, Vnesheconombank (until lastyear known as the foreign trade bank, Vneshtorgbank), has been granted a licenseby the Central Bank of Cyprus to open an offshore banking unit (OBU) on theisland. The bank will use its Cyprus branch - to be set up in the main port cityof Limassol - to promote trade and financial transactions in the Middle East. Italready...