Central Banks of Russia and Cyprus have singed a memorandum of understanding on the basis of recommendations made by the Basel Committee on Banking Supervision concerning consolidation and cooperation in banking supervisory matters, the Bank of Russia indicated in a statement today.
The two banks are planning to exchange information on licencing procedures, combat money laundering and sponsorship of terrorist organizations, supervise the development of the banking sectors in accordance with national laws, among other things.
http://www.rbcnews.com/free/20080115133643.shtml
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