Central Bank of Cyprus
|Central Bank of Cyprus
Kεντρική Τράπεζα Κύπρου (Greek)
Kıbrıs Merkez Bankası (Turkish)
|Central bank of||Cyprus|
|Succeeded by||European Central Bank (2008)1|
|1 The Central Bank of Cyprus still exists but many functions have been taken over by the ECB.|
The Central Bank of Cyprus (Greek: Kεντρική Τράπεζα της Κύπρου Turkish: Kıbrıs Merkez Bankası), is the central bank of the Republic of Cyprus, located in Nicosia. It was established in 1963. Its current governor is Prof. Panicos O. Demetriades. The bank issued Cypriot pound banknotes and coins prior to 2008, when Cyprus adopted the euro.
Governor of the Central Bank of Cyprus
The Governor of the Central Bank of Cyprus is the highest official in the Central Bank of Cyprus. The position was established in 1963 when the Central Bank of Cyprus was established.
The Governor has the responsibility of chairing the meetings of the Central Bank's Governing Council and Board of Directors. He or she had the responsibility for setting the Central Bank's policy in relation to the Cypriot economy, but this responsibility passed to the President of the European Central Bank on 1 January 2008, which is also the date that Cyprus changed over to the Euro from the Cypriot pound. The Governor is a member of the Governing Board of the European Central Bank.
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