The above policy was prepared in line with the provisions of the relevant directives of the Central Bank of Cyprus, namely the Directive on the Assessment of the Fitness and Probity of the Members of the Management Body and Managers of Authorised Credit Institutions of 2014 and the Directive on Governance and Management Arrangements in Credit Institutions of 2014.
The policy governs the assessment of the fitness and probity of members of the Management Body of the Bank and of all key function holders, such assessment being carried on both before such persons join the organisation, as well as afterwards. The object of such assessments is to ensure that such persons possess the necessary experience, expertise and knowledge to fulfill their responsibilities and that they are at the same time persons who could reasonably be expected to act honestly, ethically and with integrity.
In the discharge of its duty to carry out such assessments, the Bank seeks to adhere closely to the procedures in the above directives for the assessment and reassessment of the fitness and probity of the relevant persons, to the prescribed assessment criteria for such fitness and probity and to the prescribed recruitment policy elements.
