Financial and Banking News


Two More OBUs for Cyprus Planned

The Central Bank of Cyprus on 12 February duly granted a license to Barclays Bank plc to open an Offshore Banking Unit (OBU) on the island. Barclays already operates a network of full commercial branches in Cyprus, and is the first bank to benefit from the Central Bank's new policy of allowing dual licenses for banks. The OBU is to be opened in Nicosia by August of this year.

Meanwhile another application...