Cyprus Starts Selection Process For Board Roles In Semi-Public Organisations

Strategic Transition Ahead Of 2026

The Government of Cyprus has launched a process to appoint new board members across semi-public organisations and advisory councils ahead of term expirations in 2026. The selection is conducted through the Expert Advisory Council mechanism, which is used to evaluate candidates and support appointment decisions.

Robust Application Process

Konstantinos Letympiotis said that 1,241 applications were submitted during the first implementation of the process in 2023. Applications covered board positions across 13 organisations, reflecting interest from professionals in public sector governance roles.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Expanding Opportunities Across Leading Institutions

The current process includes 94 board positions across 12 organisations. Institutions involved include the Public Gas Company (DEFA), THOK, the Licensing Authority, the Urban Planning Council, RIK, HA EK, the Cyprus Symphony Orchestra Foundation, ATHEK, KOA, the Port Authority, the Cyprus Land Development Organisation, and the Construction and Technical Contractors Council. These roles cover sectors such as energy, culture, infrastructure, and public administration.

Clear Timelines And Evaluation Criteria

Applications will open on April 3, 2026, with submissions accepted until April 24, 2026, through an online platform. The Expert Advisory Council will assess candidates based on defined criteria and prepare a shortlist with three candidates per position. That shortlist will be submitted to the Cabinet for final selection. Interviews may also be conducted as part of the evaluation process.

An Invitation To Qualified Professionals

Authorities invited eligible candidates to submit applications for the available positions. The process is aimed at filling upcoming vacancies and maintaining governance structures across public organisations.

The Future Forbes Realty Global Properties

Cyprus Banks Urged To Focus On Long-Term Resilience As Profits Remain Strong

by THEFUTURE.TEAM

June 26, 2026

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

Breaking news