Central Bank of Cyprus critised for its handling of the FBME Bank liquidation

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The Central Bank of Cyprus’s application to assign a Liquidator to FBME Bank was rejected before the Nicosia Courthouse last week. An action which has reportedly made a mockery of the supervisory authority, the Tanzanian lender has announced. Criticisms were made of the CBC’s handling of the case, even though FBME were forced to file for liquidation 2 years ago dating back to 2015. This was not voluntary and under court order, Cyprus News Agency has reported, based on a statement issued by FBME.