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What is the banking system like? Is it possible to open a bank account in Northern Cyprus in £?

April 26, 2017bank account Banking cyprus northern possible system

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What is the banking system like? Is it possible to open a bank account in Northern Cyprus in £?

2 Answers

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There are a lot of local private banks in N. Cyprus as well as branches of the Turkish banks. You would be able to open the currency accounts (in ) which offer good interest rates. However we do recommend you to go for the reputable banks as there were instances of bankruptcy of the local banks in the past. HSBC International has opened its branches in Kyrenia (Girne) and Nicosia (Lefkosa), which is a sign of financial and political stability on the island.

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Posted

There are a lot of local private banks in N. Cyprus as well as branches of the Turkish banks. You would be able to open the currency accounts (in £) which offer good interest rates. However we do recommend you to go for the reputable banks as there were instances of bankruptcy of the local banks in the past. HSBC International has opened its branches in Kyrenia (Girne) and Nicosia (Lefkosa), which is a sign of financial and political stability on the island.