The Association of Cyprus Banks (ACB) was first established in 1969. Today the Association is a non-profit professional organization and acts as the secretariat and executive body of member banks on sectoral issues and policies.
Its major objective is the representation of the interests of the banking industry and the formulation of common positions on several legislative and financial issues, especially in relation to compliance with the Central Bank of Cyprus and the relevant EU Directives and guidelines.
The lifting of all domestic capital controls and the first quarter results of banks are encouraging signs Cyprus' banking sector is on the right track. Recent credit rating upgrades and the successful sovereign bond issue mark the re-entry of Cyprus in international markets and have boosted confidence in the economy.Read Michael Kammas's full interview