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Cyprus PIO: News Update in English, 03-11-03

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

  • [01]Monday, 03 November 2003 Cyprus' UN Permanent Representative calls for enhanced international cooperation against illicit art trafficking
  • [02] Cyprus Central Bank and Bank of Tanzania sign Memorandum of Understanding

    [01] Cyprus' UN Permanent Representative calls for enhanced international cooperation against illicit art trafficking

    "Cyprus' painful experience of the systematic destruction of its cultural heritage and its continuing struggle to save its stolen heritage from the international black market brings to the forefront the need for enhanced international cooperation against illicit art trafficking and for strengthening national cultural property legislation", Cyprus' Permanent Representative to the United Nations, Ambassador Andreas D. Mavroyiannis, has noted during his address last Friday before the UN General Assembly on the 'Return or Restitution of Cultural Property to the Countries of Origin'. He further said that Cyprus was counting on international efforts "to protect ecumenical civilisation to contribute in saving the archaeological and ecclesiastical monuments and landmarks manifesting the rich cultural historical background of Cyprus", and expressed hope that "the considerable efforts of the International Community in the direction of returning cultural objects illegally removed from their rightful owners will be extended towards the salvation of these unique structures of human civilisation". During his speech, Mr Mavroyiannis said Cyprus welcomed the report of the Secretary-General on the Return or Restitution of Cultural Property to the Countries of Origin, and noted that UNESCO and its Director- General deserved to be commended for the significant progress achieved regarding the implementation of the provisions and goals set by the relevant General Assembly resolutions. "We also commend UNESCO's efforts to promote bilateral negotiations for the return or restitution of cultural property as a matter of principle and for providing all the legal and moral arguments favoring such restitution. It is to be congratulated also for increasing public awareness for this issue and for assisting in specific cases", he added. Mr Mavroyiannis said that the Cyprus Government welcomed also the results of the Twelfth Special Session of the Intergovernmental Committee, held in Paris on 25-28 March 2003 and was encouraged by the efforts of the Committee to resolve issues of highly symbolic importance such as that of the return of the Parthenon Marbles. Furthermore, Cyprus' UN Representative pointed out that "the recent examples of the looting of the cultural heritage in Iraq and Afghanistan and several other examples have demonstrated that looting and destruction are not merely things of the past and illustrate the need to remain vigilant and the need for more permanent measures required in the battle against the illicit trafficking of cultural heritage items". "To this end", Mr Mavroyiannis added, "we stress once more the imminent need for the promotion of the Object-ID standard in order to promptly identify objects which have been stolen, and the usefulness of measures such as international expertise and cooperation in drafting and circulating national cultural property legislation."

    [02] Cyprus Central Bank and Bank of Tanzania sign Memorandum of Understanding

    The Central Bank of Cyprus and the Bank of Tanzania have signed today a "Memorandum of Understanding" on mutual co-operation and exchange of information in the field of banking supervision. The Bank of Tanzania is the competent authority for the regulation and supervision of the banking sector in Tanzania. The Central Bank of Cyprus, in addition to being the country's monetary authority, is also the banking supervisory/ regulatory authority as well as the licensing and regulatory authority for International Collective Investment Schemes their Managers and their Trustees under the International Collective Investment Schemes Law of 1999. The "Memorandum of Understanding" has been signed on behalf of the Central Bank of Cyprus by its Governor Mr Christodoulos Christodoulou and on behalf of the Bank of Tanzania by its Governor Mr. Daudi T.S. Ballali who is visiting Cyprus. The "Memorandum of Understanding" establishes a general framework of mutual co-operation and exchange of information between the two authorities with a view of facilitating co-operation for effective consolidated supervision of cross-border establishments and performance of their respective duties for the safe and sound functioning of credit organisations in their respective countries, in accordance with their respective laws and regulations. The signing of the "Memorandum of Understanding" with the Bank of Tanzania became necessary because of the presence in Cyprus, in the form of a branch, of a bank incorporated in Tanzania. The Central Bank of Cyprus pursues an active policy of signing "Memoranda of Understanding" for co-operation and exchange of information, in the fields of its competence, with respective overseas authorities. In the field of banking supervision "Memoranda of Understanding" have been signed with the Central Banks of countries whose banks already have or may have, in the immediate future, a presence in Cyprus. "Memoranda of Understanding" in this field have already been signed with the Central Bank of the Russian Federation, the Bulgarian National Bank, the National Bank of Ukraine, the National Bank of the Republic of Belarus, the National Bank of Yugoslavia, the National Bank of Romania, the Financial and Capital Market Commission of the Republic of Latvia and the National Bank of Slovakia. Moreover, negotiations are currently being carried out with another twelve overseas banking supervisory authorities for the signing of similar documents.

    From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/


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