Nicosia, Cyprus. The Central Bank of Cyprus reported a sharp drop in the average monthly number of individuals and companies registered for issuing bounced cheques in 2025 compared with 2024. The decline was recorded in both the main file and the preliminary list of the Central Information Register.
Registrations fall in main file and preliminary list
The CBC said average monthly registrations dropped by 47 per cent in the main file and by 23 per cent in the preliminary list of the Central Information Register (CIR). Average monthly registrations of natural and legal persons stood at 9 in the main file and 10 in the preliminary list in 2025, compared with 17 and 13 respectively in 2024.
Shift away from cheque use
According to the CBC report, the figures reflect the continued decline in the use of cheques as a means of payment, alongside a broader market shift toward electronic transactions.
Committee sessions and requests examined
The report said 19 sessions of the competent committee were held in 2025, during which 202 requests for the deletion of natural and legal persons were examined. These requests were submitted either by the registered persons themselves or by their authorised representatives.
The same sessions also examined 15 requests for the release of funds from accounts frozen due to CIR-related measures. These followed requests by the authorised credit institutions where the accounts were held and the submission of the necessary supporting documents.
2026 objective
The report said the main objective for 2026 is to launch a project to replace the existing CIR electronic system with a new one designed to meet current technological and regulatory requirements.
What do you think the shift from cheques to electronic transactions will mean for payment practices in Cyprus?