(MENAFN) Cyprus finance ministry stated that it has loosened restrictions on 8 more foreign banks, reported Xinhua News.
The ministry said that the banks were exempted from the restrictions imposed on banks deals after the Eurogroup introduced a rescue for Cypriot banks in March.
According to the ministry, if a bank is more than 50 percent affiliate of a foreign bank, it can be excluded from constraints.
It noted that the foreign bank must guarantee that it can support the liquidity position of its subsidiary.
It is worth noting that 27 foreign banks are currently operating in Cyprus.
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