NICOSIA, March 27 Cyprus is to impose a ban on
cashing cheques and limit the amount of cash that can be taken
out of the country under a series of measures to avert a run on
its s crippled banks, a Greek newspaper reported on Wednesday.
The Kathimerini newspaper, citing a government decree, said
the measures would remain in force for seven days after the
banks re-open on Thursday.
Cypriots who want to transfer money overseas will have to
prove that the transactions meet strict rules laid out by the
To allow trade to continue, Cypriot businesses can pay for
imports if they provide authorities with the necessary
The use of credit and debit cards overseas is restricted,
and individuals travelling abroad can take a maximum of 3,000
euros on each trip.
Funds deposited with banks for a fixed period of time cannot
be withdrawn early.
Officials at the Cypriot central bank and finance ministry
told Reuters that the newspaper report was based on draft
proposals and a final version had yet to be adopted.
Final proposals were expected to be published later on
Wednesday, a day before the banks reopen for the first time in