The Finance Ministry said it further relaxed capital controls introduced following the March 2013 banking crisis.
The cap for money transfers abroad was raised to €1 million from €50,000 per person per credit institution, the Finance Ministry said in an emailed statement today.
“The order will remain in place for 21 days”.
Central Bank Governor Chrystalla Georghadji said that all capital restrictions will be lifted by the end of the first quarter of the year.
Source: Cyprus Mail
