Digital Cooperation Organisation Unveils Groundbreaking AI Ethics Evaluator

A New Framework For Ethical AI

The Digital Cooperation Organisation (DCO), the world’s first dedicated intergovernmental body for advancing digital economies, has officially launched its AI Ethics Evaluator Policy Tool. Unveiled at the prestigious AI for Good Summit 2025 and the World Summit on the Information Society (WSIS+20) in Geneva, Switzerland, the new tool is a strategic step in operationalising the DCO’s Principles for Ethical AI, which were endorsed by its 16 Member States earlier this year.

Guiding Ethical Standards And Accountability

Designed to help governments, organisations, and individual stakeholders systematically assess ethical and human rights risks associated with artificial intelligence, the Evaluator produces tailored, actionable recommendations accompanied by a comprehensive visual report. The tool, introduced by Omar Saud Al-Omar, Minister of State for Communication Affairs of Kuwait and Chairperson of the DCO Council for 2025, is based on meticulous DCO research and global consultations with experts. It implements a structured self-assessment model that addresses six key categories of ethical risks as defined by the organisation’s principles.

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Enabling A Unified And Sustainable Digital Future

Deemah AlYahya, Secretary-General of the DCO, emphasised that the new tool embodies the organisation’s commitment to transforming ethical commitments into pragmatic action. “AI without ethics is not progress, it’s a threat,” she stated, underscoring the tool’s role in mitigating algorithmic bias, data exploitation, and other potential risks. The Evaluator serves as both a diagnostic instrument and a directional compass guiding nations, developers, regulators, and innovators towards aligning technological advancements with core human values.

Global Collaboration And Future Impact

Alaa Abdulaal, Chief of Digital Economy Intelligence at the DCO, highlighted that the future of AI will be determined not merely by technological speed but by the underlying values encoded into its systems. The launch event, attended by ministers, policymakers, civil society representatives, and AI experts from around the globe, marked a pivotal moment in the international dialogue on AI governance. With several Member States and private sector partners poised to integrate the Evaluator into their national frameworks, the DCO is clearly positioning itself at the forefront of digital cooperation.

Setting The Standard For Responsible Digital Transformation

Since its inception in November 2020, the DCO has been a catalyst for inclusive and sustainable digital transformation, representing nearly 800 million people across its diverse membership. By promoting inclusive policies, expanding market opportunities for small and medium-sized enterprises, and empowering underrepresented groups, the organisation is ensuring that emerging technologies advance global prosperity without compromising fundamental rights.

With the launch of the AI Ethics Evaluator Policy Tool, the DCO is not only affirming its mission but also setting a high benchmark in digital governance, establishing a shared ethical foundation that redefines progress as being inseparable from accountability and human dignity.

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Cyprus Foreclosure Reform Debate Intensifies Amid Rising Non-Performing Loans

by THEFUTURE.TEAM

February 18, 2026

Political Stakes And Foreclosure Regulation

Cypriot political parties are engaging in a high-stakes debate in parliament as they deliberate changes to the legal framework governing foreclosures ahead of the May parliamentary elections. The proposed shifts are aimed at curbing the rapid escalation in the value of non-performing loans, a trend that has sparked significant public and legislative concern. Confidential data from the Central Bank of Cyprus indicates that the nation has not yet moved away from its longstanding issues related to so-called “red loans.”

Non-Performing Loans: A Mounting Financial Challenge

Recent figures show that the value of distressed loans has continued to rise, surpassing €20 billion following transfers involving banks and credit recovery companies. This level exceeds the approximately €15 billion recorded during the economic crisis period. Central Bank data indicates that after loan sales, credit recovery firms now manage portfolios totaling €19.7 billion, of which €18.5 billion are classified as non-performing. About 87% of these loans are considered terminated, while the firms acquired 141,478 loans for €3.2 billion, roughly 80% below their original value.

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Credit Recovery Companies: Overshooting Investment Returns

By June, credit recovery companies had recovered €5.7 billion through a combination of cash repayments, judicial asset auctions and property-for-debt exchanges. Cash repayments accounted for €3.6 billion, judicial recoveries contributed €619 million, and property swaps added €1.5 billion. These recoveries exceeded the original purchase cost of many loan portfolios while overall balances continued to increase due to accrued interest, a development that remains a concern for policymakers.

Bank Portfolios And The Impact On Financial Stability

Data from the State Guarantee Fund for Deposits and Loans shows that 77,561 loans valued at €7.5 billion were transferred, leaving a remaining balance of €5.7 billion by June 2025, of which €5 billion are non-performing. Within the banking sector, non-performing loans totaled €1.45 billion across 24,736 accounts as of last June. Since December 2024, these figures have improved by approximately €86 million due to repayments and asset recoveries. The reduction in problematic loans has lowered bank exposure compared with levels recorded during the 2013 crisis.

Legislative Proposals And Government Considerations

Political leaders argue that adjustments to foreclosure procedures can be introduced without undermining banking stability. Parliament’s Economic Committee is scheduled to begin discussions on March 9, with an estimated 20 to 30 legislative proposals currently pending from multiple parties. While the Ministry of Finance has not announced immediate legislative action, officials are evaluating the potential reintroduction of elements of the Rent-Versus-Rate plan for vulnerable borrowers, subject to fiscal impact assessments.

Advocacy From AKEL And Environmental Groups

Proposals supported by the AKEL party and several civil organizations focus on strengthening legal protections for borrowers. Among the suggested measures is restoring the right to seek judicial relief to delay foreclosures in cases involving disputed charges or alleged abusive contract clauses. AKEL representative Aristos Damianou criticized the pace of foreclosure proceedings and warned of risks to primary residences and small businesses.

Proposals Targeting Guarantors And Foreclosure Processes

The Democratic Rally party has introduced a proposal aimed at limiting guarantor liability during foreclosure procedures. Under the draft measure, if a property is auctioned or repossessed, the guarantor’s responsibility would be capped at the original loan amount adjusted by recovered sums. The proposal also requires that enforcement actions against guarantors be suspended until a court ruling is issued if the borrower formally disputes the debt.

Revisions Proposed By The Democratic Party of Cyprus

The Democratic Party is also preparing new legislative measures to be introduced on Thursday. Party leader Mario Karogian outlined plans to suspend the foreclosures of primary residences valued up to €350,000 until the end of the year, allowing time to address legislative gaps. Additional proposals include broadening the powers of the Financial Ombudsperson to make binding decisions on disputes up to €50,000, enforcing the Central Bank’s code of conduct, and ensuring strict adherence to refinancing guidelines for first residences.

Outlook And Strategic Implications

The range of proposals reflects an ongoing effort to balance financial system stability with stronger consumer protections. Decisions made in the coming months are expected to shape the regulatory environment for foreclosures and influence broader confidence in Cyprus’ financial sector and economic outlook.

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