The Origins of Modern Banking in Cyprus

Kate Phylaktis

Chapter 1 in The Banking System of Cyprus, 1995, pp 5-22 from Palgrave Macmillan

Abstract: Abstract The first bank to establish a branch on the island was the Imperial Ottoman Bank. This Turkish-registered bank had been created in 1863, and was virtually an Anglo-French creation with management control resting in twin committees in London and Paris. By the 1880s, however, the bulk of the equity was in French hands.1 The Imperial Ottoman Bank opened a branch in Larnaca in May 1864,2 probably because it was anxious to receive a share of the Cyprus trade in cotton, an attractive proposition during the cotton famine of the early 1860s.3

Keywords: Limited Liability; Foreign Bank; Saving Bank; British Government; Banking Crisis (search for similar items in EconPapers)
Date: 1995
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DOI: 10.1007/978-1-349-12868-6_1

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