Browse
related articles
Arab banks may withdraw from Cyprus
- Middle East: Wednesday, March 20 - 2013 at 07:45
The head of the World Union of Arab Bankers has said Arab lenders operating in Cyprus may abandon the island if the government does not revoke a proposal to impose taxes on depositors, The Daily Star has reported. "Cyprus is facing a historic challenge that cannot support any mistakes. The Cypriot parliament must reject this miserable plan which will not only lead to the migration of Arab and international deposits, but also deal a blow to Cyprus as an international financial hub in the region," Joseph Torbey said. "It is unfair to burden the Arab banks with the cost of increasing the capital of the troubled Cypriot banks. The customers of these banks should not pay the price of this decision," he said.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
