Cyprus abolishes maximum daily cash withdrawal limits

Cyprus abolishes maximum daily cash withdrawal limits
By Euronews
Share this articleComments
Share this articleClose Button
ADVERTISEMENT

Cyprus abolished on Friday maximum daily cash withdrawal limits from bank accounts, a year after it imposed capital controls to prevent economic meltdown and capital flight under the terms of a painful international bailout.

In a decree issued by the finance ministry, the 300 euro limit per person per day was scrapped, along with restrictions on breaking fixed-interest time deposits prior to maturity.

The decree also allowed, under conditions, individuals to open bank accounts in other credit institutions.

REUTERS

Share this articleComments

You might also like

UK ‘bases of death’ in Cyprus see controversy amid Middle East conflicts

Cyprus rescues 60 Syrian migrants lost at sea for 6 days

Migrant group slams Cyprus authorities for failure to investigate bomb attack