The Central Bank of Cyprus has calculated the reference interest rate under Article 314A of Cyprus’ Criminal Code Law (Cap. 154) at 11.84%, a benchmark used in determining when interest-related financial benefits in lending arrangements may constitute a criminal offence. Under Article 314A, a person who, in the granting of a loan, provision or extension of payment terms, renewal or discounting of a loan, receives, debits or otherwise concludes or obtains for themselves or a third party a financial or pecuniary benefit exceeding the reference rate commits an offence. Upon conviction, the penalty is imprisonment of up to five years, a fine of up to EUR 30,000, or both.
Central Bank of Cyprus 2025-10-31
Central Bank of Cyprus sets the reference interest rate at 11.84% for Criminal Code enforcement
The Central Bank of Cyprus has set the reference interest rate at 11.84% under Article 314A of Cyprus’ Criminal Code Law. This rate determines when interest-related financial benefits in lending arrangements may constitute a criminal offence, with penalties including up to five years imprisonment, a fine of up to EUR 30,000, or both.