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The Central Bank of Cyprus has given further details of the Memorandum of Understanding it concluded in November with the Qatar Central Bank, regarding the supervision of credit institutions.

In October 2008 the Cyprus government announced its intention to improve protection for bank depositors by increasing the deposit guarantee from €20,000 to €100,000.

The Central Bank of Cyprus has published the draft Payment Services Law of 2009, which implements the European Payment Services Directive, 2007/64/EC.

The Central Bank of Cyprus has announced that the Central Bank of the Russian Federation has removed Cyprus from the list of countries it regards as offshore centres with preferential tax regimes.

The Cyprus Securities and Exchange Commission ("CySEC") has circulated a further draft of the Regulation of Fiduciaries, Administration Businesses and Company Directors Law for comment by interested parties.

According to Reuters, the leading international news agency, a draft report prepared following the visit to Cyprus by inspectors from the European Commission, the European Central Bank and the International Monetary Fund - together known as the troika - draws positive a conclusion on Cyprus's progress in strengthening public finances. According to the draft report, Reuters said, "Staff concluded that Cyprus's economic adjustment program is on track."

The European Investment Bank (EIB) has announced that it aims to invest €300 million in Cyprus during 2010, a 50 per cent increase on 2009’s record investment of €202 million.

The Central Bank of Cyprus has published an updated Directive on Governance and Management Arrangements in Credit Institutions.

In view of recent disruptions in the Cyprus banking system, a number of deadlines have been revised in order to better assist the public.

The Settlement Finality in Payment and Securities Settlements Systems Law (Amendment) Law, 99 of 2011 and the Banking Business and Securities Transfer (Amendment) Law, 103 of 2011 align Cyprus domestic banking legislation with Directive 2009/44/EC of the European Parliament and of the Council amending Directives 98/26/EC on settlement finality in payment and securities settlement systems and 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims.

Limitation periods in Cyprus are set out in the Limitation of Actions Law, Cap 15, which dates back to the time when Cyprus was a British colony.

The Organisation for Economic Co-operation and Development proposed a Common Reporting Standard (CRS) for the Automatic Exchange of Information with the aim of improving international tax compliance and preventing tax evasion...

Several citizens of the Republic of Cyprus and one company which is based in Cyprus had claimed before the European Court of Justice compensation for the private deposits haircut in Cyprus which occurred in 2013.

The Cyprus Ministry of Finance has announced the following further relaxations of capital control

In 2007 the Central Bank of Cyprus reduced the amount that commercial banks in Cyprus were permitted to lend against the security of second homes to 60% of the property value.

In order to increase public acceptance of cheques, in 2003 the Central Bank of Cyprus and the Commissioner of the Co-operative Societies Supervision and Development Authority jointly established a register of issuers of dishonoured cheques known as the Central Information Registry.

The Covered Securities Law, 130(I) of 2010, which was enacted in December 2010, establishes the legal framework for issuance of covered bonds in Cyprus complying with Directive 2009/65/EC (the UCITS Directive) and Directive 2006/48/EC (the Capital Requirements Directive).