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Bank Of Cyprus Named Best Foreign Exchange Bank in Cyprus for 2025

by THEFUTURE.TEAM

March 11, 2025

The Bank of Cyprus has once again cemented its leadership in the financial sector, earning the title of Best Foreign Exchange Bank in Cyprus for 2025 by Global Finance’s prestigious Gordon Platt Foreign Exchange Awards. This recognition underscores the bank’s commitment to innovation, seamless digital banking solutions, and outstanding customer service.

A Digital-First Approach To FX Services

This accolade follows the successful rollout of eFX Convert, a cutting-edge digital currency exchange service launched in 2024. Designed to provide real-time exchange rates with no hidden fees, eFX Convert reflects the bank’s broader strategy of leveraging technology to enhance financial services. Customers can now convert currencies instantly through the Bank of Cyprus’ digital channels, ensuring efficiency, accuracy, and security in their transactions.

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The service allows real-time conversions in a wide range of currencies, eliminating additional commissions and providing extended trading hours—an offering unique among Cypriot banks. In addition, the bank’s Quick Accounts feature integrates live FX rates, enabling users to open USD or GBP accounts online and execute transactions at preferential rates without foreign exchange commission.

Recognition On The Global Stage

The award was presented at the Global Finance Foreign Exchange and Best SME Bank Awards Ceremony in London on 25 February, where leading financial institutions from around the world gathered to celebrate excellence in FX services. The selection criteria included transaction volume, market share, global reach, customer service quality, competitive pricing, and technological innovation.

The Growing Role Of FX In Corporate Strategy

The Bank of Cyprus’ recognition comes at a time when FX management is more critical than ever. With global trade facing heightened volatility due to geopolitical shifts, fluctuating interest rates, and emerging trade barriers, businesses are placing greater emphasis on sophisticated FX solutions. According to market analysts, FX trading volumes have surged post-pandemic, reaching daily records of over $7.5 trillion in 2024, with projections indicating continued growth.

To stay ahead, financial institutions are increasingly turning to AI-driven analytics, algorithmic trading, and automated FX hedging strategies. As a leader in Cyprus, the Bank of Cyprus is positioning itself at the forefront of these advancements, offering tailored FX solutions that help businesses mitigate risk and optimize international transactions.

About Global Finance

Founded in 1987, Global Finance is a leading authority in international financial analysis, with readers in 188 countries. Its awards set the benchmark for excellence in banking, investment, and financial services. The Gordon Platt Foreign Exchange Awards honors institutions that demonstrate superior expertise in the FX market, ensuring businesses and investors can confidently navigate the complexities of global currency exchange.

By securing this award, the Bank of Cyprus not only reaffirms its dominance in the Cypriot banking landscape but also solidifies its reputation as a forward-thinking financial institution ready to meet the evolving demands of modern FX markets.

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Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.