The role and prospects of the financial sector of Cyprus were the focus of the panel entitled 'The Financial Services Sector of Cyprus', which took place as part of the Cyprus–India Business and Investment Summit in Mumbai.
The discussion, which was moderated by George Michael, CEO of IMH, was part of the broader context of the conference, which highlights Cyprus as a reliable business and investment hub and as a gateway to the European market for Indian businesses.
During the panel, key information about the banking system of Cyprus, the regulatory and supervisory framework, as well as the opportunities offered by the country in the field of financial and investment services were presented.
Eurobank's intention to open an office in Mumbai next March was revealed by Panayiotis Chrysostomou, Manager, Banking Services & Representative Offices, Eurobank). He also referred more broadly to the advantages of developing banking relationships with Cypriot financial institutions and to Cyprus' role as a stable and reliable European banking centre, with particular emphasis on serving international clients and on solutions that facilitate cross-border business activity. At the same time, the possibilities offered by Cyprus in the field of investment services, fund management and wealth management were presented.
Marios Christoforidis, Manager International Business Unit Nicosia and IBU India Hub, Bank of Cyprus, referred to the structure and characteristics of the banking market in Cyprus, as well as the role of transaction banking in supporting international business activities and in connecting with the Indian market.
Petros Mavrommatis, Board Member, Head of KPMG Cyprus Asset Management Services, KPMG in Cyprus / Vice President, Cyprus Investment Funds Association (CIFA), highlighted the dynamics of the Cypriot investment fund industry and the country's growing role as a jurisdiction for managing and hosting investment schemes.
In the broader context of the investment ecosystem, George Nicolaou, Director, K. Treppides & Co Ltd, referred to the legal, tax and regulatory environment that supports the operation of investment and financial structures in Cyprus, as well as the
The panel highlighted overall the role of Cyprus as a modern and multi-dimensional financial center, capable of supporting the banking, investment and financing needs of international businesses, further strengthening the economic relations between Cyprus and India.
The Conference is organised by IMH, in collaboration with Invest Cyprus.
Sponsors: Bank of Cyprus, Frangos Law / Bybloserve Management, Eurobank, Chrysostomides Advocates and Legal Consultants / C Business Advisors, KPMG, L Papaphilippou & Co LLC Advocates and Legal Consultants, Marfields, Nobel Trust / Ioannides Demetriou, PwC, Scordis Papapetrou & Co, K. Treppides & Co Ltd
Exhibitors: Aristo Developers, Christabel Corporate Services, Cyproman Services Limited, Cyprus Fiduciary Association
Supporter: TechIsland
Communication Sponsors: CBN, Gold, INBusiness
Organiser: IMH
(Source: InBusinessNews)
