Dear Clients,

Since 9th of April 2016 the Central Bank of Cyprus (CBC) has activated the Deposit Guarantee Scheme (DGS) compensation for FBME Bank Ltd – Cyprus Branch (FBME) deposit holders.

The Deposit Guarantee and Resolution of Credit and Other Institutions Scheme, which has been established by Law (“the DGS”), will pay via the Deposit Guarantee Fund for Banks compensation to the depositors of FBME in relation to their deposits at FBME which are covered by the DGS, with the maximum amount of compensation to each eligible FBME deposit holder being €100.000 per depositor.

The eligible depositors of FBME are reminded to submit the standardized statement of particulars for compensation, which upon assessment by FBME is submitted to the CBC for review. The last day of submission of depositors’ particulars and accompanying documentation regarding the payout procedure for deposits at FBME is the 11th of April 2018. DGS will proceed to compensate all eligible FBME deposit holders.

Areti Charidemou & Associates LLC, may act on behalf of FBME eligible deposit holders and provide support during the compensation process by the DGS.

For any information, please do not hesitate to contact us,

Savvas Patsalos

Savvas.Patsalos@aretilaw.com

CategoryNews, Newsletters