11/02/2004 12:20
Speaking before the House Audit and Finance Committees on the supervisory role of the Central Bank in 1999, CB Governor, Christodoulos Christodoulou criticized former CB Governor for not exercising his supervisory role properly and not ensuring the compliance of the banks with the CB circulars.
Invited to comment on the statements of the commercial banks’ governors (BOC – CPB), who urged investors not to sell their shares, Mr. Christodoulou said that these statements “contributed to the tragedy”.
Mr. Christodoulou pledged to send all the relevant figures concerning the internal audit of the commercial banks in 1999-2000 to the Parliament, as well as the figures on the granting of loans with the finance method in 1997, 1998, 1999 and 2000.
Invited to comment on the statements of the commercial banks’ governors (BOC – CPB), who urged investors not to sell their shares, Mr. Christodoulou said that these statements “contributed to the tragedy”.
Mr. Christodoulou pledged to send all the relevant figures concerning the internal audit of the commercial banks in 1999-2000 to the Parliament, as well as the figures on the granting of loans with the finance method in 1997, 1998, 1999 and 2000.
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