InsiderBusinessCommittee of inquiry into co-op to be sworn in on Monday

Committee of inquiry into co-op to be sworn in on Monday

A committee of inquiry set up to probe the collapse of  the co-operative credit system will be sworn in on Monday and begin work.

According to an announcement from the Law Office of the Republic on Thursday, the three member committee will be sworn in before the attorney general at 9.00 am. Chaired by former Supreme Court judge Yiorgos Arestis, the committee is also made up of former Securities and Exchange Commission chairman Yiorgos Charalambous and former Alpha Bank Cyprus CEO Yiorgos Georgiou.

They are changed to establish what led the co-op credit sector to its current plight, and have the right to call in experts. They are free to determine how far back their investigation will go. They must submit a report within three months with a possible extension for another three months.

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