(MENAFN) Cyprus Finance Ministry stated that international clients of Beirut-based BankMed no longer faced restrictions on money withdrawals and transfers, reported The Daily Star.
The ministry added that after Cyprus lifted the restrictions, the number of exempted foreign banks rose to 15. The authorities announced that all restrictions will be lifted as soon as the banking system is fully back on its feet.
It is worth noting that Cyprus got a USD30 billion rescue package from European partners as well as the IMF which caused depositors in the biggest two banks in the country to suffer big losses on savings. However, things have started to look better in the last two months which caused the lifting of restrictions.
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