A. Support and Coordination
• The department provides strategic support and ensures effective coordination among member banks on matters related to labour legislation, regulations, and general labour issues.
B. Training Programs
• The department offers high-quality, professionally designed training programmes, mainly to employees of member banks. The department is currently exploring options and is actively developing partnerships to offer training programmes to the broader financial community.
• Programmes are delivered online (webinars) and in-person in collaboration with renowned educators, both from Cyprus and abroad, to enhance program effectiveness.
• Asynchronous e-learning programs are also available, covering a wide range of topics such as AML, GDPR, information security and physical security of branches.
C. Annual Reports for Member Banks
• Conducts an annual survey among member-banks to provide:
o An overview of employment statistics in the banking sector, including demographic data, qualifications, and women’s participation in management.
o A report on the average labour cost and average gross salaries per bank employee.
o A report on sick leave trends within the banking sector.
Employers’ Association of Cyprus Banks
The Employers’ Association of Cyprus Banks assists its members in labour relations issues such as the interpretation and proper implementation of collective agreements and represents its members before the relevant bodies. The Employers’ Association and its members successfully concluded the negotiations with the union and signed a new collective agreement with the union covering the period 2023-27 in December 2025.
European Banking Federation – Banking Committee for European Social Affairs (EBF-BCESA)
The Association is represented by Dr. Yiannos Rossides, Manager, People and Innovation Department, at the meetings of the European Banking Federation’s Banking Committee for European Social Affairs (EBF-BCESA).
The EBF-BCESA operates as an autonomous entity in relation to the other committees within the European Banking Federation and serves as the collective voice of National Banking Associations on employment and social affairs matters within the banking sector.
European Sectoral Social Dialogue in Banking
Moreover, Dr. Rossides represents the Association in the European Sectoral Social Dialogue (SSD) meetings for the banking sector. He also represents the EBF-BCESA, in collaboration with other members of the committee, to the sectoral meetings of the SSD. The most noteworthy achievement of the last year was the conclusion of the negotiations to sign a joint statement on Preventing Violence and Harassment in the Workplace. The European social partners of the banking sector signed the relevant Joint Statement on 15.1.2026 in Brussels. The joint statement was co-signed by Dr. Michael Kammas (ex. Director General of the Association) who served as Vice-Chairman of the EBF-BCESA for 12 years.
Cybersecurity Initiatives
The Association’s Cybercrime Working Group remains proactive in monitoring cybercrime trends and collaborates closely with key authorities, including the Digital Security Authority (DSA) and the Central Bank of Cyprus, to emphasize the importance of cybersecurity.
The Association also participates in meetings with the relevant committees of the House of Representatives during the enactment and amendments of laws related to cybersecurity, such as the transposition of the Directive for NIS2 to the national legislation.
During the public consultation period, the Association submitted comments on the relevant regulation on the fees imposed by the DSA and is preparing to represent and promote the positions of member-banks to the relevant committee of the House of Representatives.
The Association also participates in campaigns to raise public awareness on cybersecurity and fraud threats.
The AΣΠiS campaign, initiated by the Association, is conducted annually, or when needed to enhance public awareness of cybersecurity threats. This initiative, developed in partnership with the DSA and law enforcement agencies, underscores a collective commitment to educating the public on cybersecurity measures. The campaign aims to improve general awareness and preparedness against cyber threats.
Additionally, the Association actively participates in the annual European Money Mule Action campaign (EMMA9) in Cyprus. This initiative, coordinated by the European Banking Federation and Europol, focuses on raising awareness and combating financial fraud.
Lastly, the Association, in collaboration with Mastercard Cyprus, conducted an awareness campaign in April–May 2025 through television, radio and social media to raise awareness and educate the public on the three main methods of electronic fraud, that is, phishing, smishing and vishing. The campaign aimed to raise public awareness of these methods and to encourage vigilance, advising individuals to avoid responding to unsolicited notifications, calls, or emails from unknown sources.
