Financial and Banking News


Cyprus to Broaden Its ABU Appeal 

The Offshore Banking Units (OBUs) in Cyprus, which have so far been dominated by Lebanese institutions, are likely to witness major changes in the coming months as the results of a strategic shift by the Central Bank are felt. MEES understands that the concept of 'dual licensing', already well established in Bahrain where the Bahrain Monetary Authority (BMA) allows banks to hold both a local and an...