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Marios Clerides emphasizes need for ethical banking in Cyprus markets

4 sourcesFirst reported 11 days agoUpdated 11 days ago

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Marios Clerides, a fiscal council member in Cyprus, advocated for the need for "ethical banking" in light of discussions surrounding a new cooperative bank. He emphasized that the financial market requires institutions that prioritize the interests of borrowers alongside profitability. Clerides also raised concerns about governance issues related to the establishment of the cooperative bank. His comments were made during interviews with various media outlets on July 11, 2026.

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Marios Clerides, an economist and member of Cyprus's Fiscal Council, emphasized the need for "ethical banking" in the context of discussions about establishing a new cooperative bank in Cyprus. He expressed concerns that the financial market should prioritize more than just profit, advocating for banks that consider the needs of borrowers as well.

Clerides highlighted the importance of governance standards in this initiative, suggesting a cautious approach to ensure that the new bank adheres to high ethical principles. The call for ethical banking reflects a growing sentiment within the markets that financial institutions should operate with a sense of social responsibility and accountability.

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Marios Clerides emphasizes need for ethical banking in Cyprus markets

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