The Central Bank of Cyprus (CBC) did not have any involvement during the Cyprus Investment Program (CIP), while the framework for exceptional naturalizations “does not entrust any responsibility or role to the CBC”, stressed the Governor of the Bank Konstantinos Herodotou , before the Research Committee of the Exceptional Naturalizations of Foreigners, Investors and Entrepreneurs.
At the same time, he underlined that “the views of the CBC were never requested for exceptional naturalization applications submitted by or on behalf of foreigners, nor did the CBC participate in the planning of the KEP”.
Answering a question about the case of Malaysian Joe Lowe, Mr. Herodotus said that as soon as this news came out, he instructed to conduct an on-site inspection especially for this case, which started in November 2019 but due to Lockdown there was some delay.
“These days the final decision will be made which is the fine” to the bank, he announced.
Access to gold passport files requested by the Audit Office after the INTOSAI report – According to Legal Service sources
From 2013, it seems that the former director of Urban Planning, the Archbishop – Advisor to His Beatitude, wanted to demolish the preserved buildings.