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Tough times for Cyprus based FBME bank! In July 2014 the Central Bank of Cyprus placed FBME under resolution and appointed an administrator to take over the operational side of business, and specifically the payment administration of the bank.
Although the Federal Bank of the Middle East - the full name of FBME - is very liquid and doesn't have any challenges with solvency, the Central Bank of Cyprus decided to put a hold to the standard daily operations, following a report by US based FinCEN. Accusations in the FinCEN report are extensive. Without going into too much detail (the complete situation is outlined in detail here) FBME customers have a problem that needs to be solved. This website is created to keep FBME customers up to date with new information but above all a solution to help them transfer funds from their partly blocked bank account. |
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