Insider Business Central Bank circular calls on bank staff to be polite, patient with...

Central Bank circular calls on bank staff to be polite, patient with clients

A circular sent out to all banks by Central Bank of Cyprus Governor Constantinos Herodotou calls on staff members to be friendly, patient and courteous with customers.

Insiders also told Phileleftheros that the recently sent circular underlines that it is essential for staff to receive sufficient training on how to professionally deal with clients.

And when necessary, the Governor wants staff to be able to explain to clients all bank procedures in detail, with patience and courtesy.

He then points out that when clients are thoroughly informed, then it will be easier for them to contribute positively towards regulatory compliance as well.

The reason the circular was sent out is, apparently, the numerous complaints the Central Bank had received regarding the way a recent customer data update process by commercial banks was carried out.

CBC has called on banks’ senior management staff to review procedures so as to ensure that these are customer-friendly.

The Governor also urged top executives to ensure that their employees conduct the due process with due diligence and respect towards customers.

The circular also called for warnings and time-frames provided to be in line with the legislative and regulatory framework aiming to prevent money laundering and terrorist financing.

At the same time, the Central Bank reminds banks that data updates should be carried out separately for each and every customer and not in the same, mass-production way.

And that employees should only collect information necessary for each case according to a customer’s profile and degree of risk.

Many citizens used social media to express their anger over the way banks were carrying out the updates, with some even pointing out that the same letter they had received was also sent to their underage children.

Read more:







Top Stories

Greece records over 2 thousand new covid cases in tragic peak-135 in ICUs (update)

  Greece recorded a new surge in new covid-cases, going over two thousand daily tally for the first time since the start of the pandemic. 2,056...

Cyprus records Covid death, raising number to 33, five critical-149 new cases

  A ninety one year old woman with underlying illnesses, succumbed to Covid-19 today at the Famagusta General raising the number of positive cases who...

Greek Orthodox priest shot in Lyon, France; assailant flees (update 2)

  A Greek Orthodox priest was shot and injured at a church in the French city of Lyon by an assailant who then fled. The priest...

Tala fire under control

  A massive blaze between the Tala, Koili and Kissonerga communities was placed under control late this afternoon, after more than two hours. It destroyed trees,...

The first 007 dies at 90-So long Sean Connery

  Scottish movie legend Sean Connery, who shot to international stardom as the suave, sexy and sophisticated British agent James Bond and went on to...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...