In line with its policy of developing bilateral ties in the domain of supervision of credit institutions the Central Bank of Cyprus has signed a Memorandum of Understanding with the Malta Financial Services Authority, the body responsible for licensing and supervision of credit institutions operating in Malta.
The Memorandum of Understanding defines a general framework of mutual cooperation and exchange of information between the two authorities with a view to facilitating the consolidated supervision of cross-border establishments and ensuring the safe and orderly functioning of credit institutions in the respective countries, in accordance with their national laws and regulations and within the European framework. Both countries joined the EU on 1 May 2004 and the Eurozone on 1 January 2008.
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