The Association is governed by the Board of Directors which comprises of executive officers of member banks. The Chairman, who chairs theBoard of Directors, iselected by the members of the Board of Directors , as is the Vice-President.. The term of the Chairman and the Vice-President is two years.

The Director General, who is appointed by the Board of Directors, makes recommendations, executes the decisions of the Board and manages the administrative activities and the day-to-day operations of the Association. The Director General is supported by a team of senior professional staff and a full time secretariat.

There are also a number of Permanent Interbank Advisory Committees and ad-hoc working groups which deal with specific financial and banking issues. These Committees and Working Groups monitor and analyze local and European regulations, EU Directives and technical guidelines, take collective decisions and make recommendations to the Director General. When necessary, the Director General submits recommendations to the Board of Directors. According to the Board’s decision, the common positions are either implemented or communicated to the appropriate bodies, the Central Bank of Cyprus and/or other governmental institutions.

The Permanent Interbank Advisory Committees of the Association are listed below:

  1. Legal Committee
  2. Banking Regulation and Supervision Committee
  3. AML and Regular Compliance Committee
  4. Financial Markers Committee
  5. Retail & Consumer Affairs Committee
  6. Accounts & Fiscal Committee
  7. Organization & Methods Committee
  8. Internal Audit Committee
  9. Payments – SEPA Committee
  10. HR and Training Committee