The Central Bank of Cyprus announced that as of the 01.03.2011 the duration of the validity cheques issued will be reduced from the current 6 months to 3 months as of the date of the issue of the cheque.
This decision affects cheques issued as of the 01.03.2011 and applies equally to government issued cheques following the 01.08.2011.
The decision was taken following the Cyprus Clearing House for cheques, committee`s decision and was taken in the context of promoting the rational use of the cheques as method of payment.
