Newsroom
President Nikos Christodoulides has confirmed that the online portal for compensation claims linked to Cyprus' 2013 banking crisis will reopen, giving eligible depositors and holders of bank securities another opportunity to submit applications if they missed the original deadline.
Speaking before the Invest Cyprus International Investment Awards on Thursday evening, the President said the Government had set aside funding in the 2026 State Budget for compensation payments once the new applications have been assessed.
His comments followed questions over reports that no new compensation scheme would be introduced during 2026 for people who suffered losses in the 2013 bank bail-in.
Mr Christodoulides said the Government had honoured a commitment made before the elections by introducing a compensation programme after taking office. He explained that some eligible claimants were unable to apply when the online platform first opened, making a second application period necessary.
According to the President, the reopened portal will allow those applicants to file their claims, after which the submissions will be examined before compensation payments are approved.
He also confirmed that planning is already in place for a new compensation scheme in 2027, alongside the funds allocated for payments under the 2026 Budget.
The compensation programme relates to depositors and investors who suffered financial losses during Cyprus' 2013 banking crisis, when the bail-in measures affected uninsured deposits and certain bank securities.
