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G4S Supports Cypriot banks

G4S supports Cypriot banks ahead of reopening
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G4S, the world’s leading secure outsourcing group, is supporting banks in Cyprus by working around the clock to provide additional cash delivery and processing services, ahead of the scheduled reopening tomorrow.
G4S Cyprus, which employs 750 people in the country, has been working hard to ensure that banks and their customers have sufficient cash stocks available to meet the heightened demand generated as a result of the current difficulties. 

As part of the support to the banks, G4S has increased the frequency of cash deliveries to help keep Cyprus moving by providing enough cash to assist in the flow of the transactional economy.

The company will be delivering cash at some of Cyprus’ leading banks, as well as providing security officers to assist with queues.
Banks in Cyprus have been closed for more than a week whilst the Government has been in discussions regarding a bailout. During this period, withdrawals at cash machines have often been limited to amounts as low as 100 euros a day per customer.

John Arghyrou, managing director of G4S Cyprus, said: “Our staff are working extremely hard to support the Cypriot banks during this challenging time for them. 

“Our teams are experienced in delivering an increased cash service in such circumstances, for example, during the period in which the euro was implemented. 

“We are working closely with the Cypriot banks to ensure that they have enough cash to ensure that the transactional economy keeps moving. 

“People have been able to access some cash, albeit limited amounts, during this period so we expect that they will have been able to withdraw the appropriate amount of cash that they require for their day to day activities.

“We have been working around the clock to make sure the banks are stocked well enough to replenish their machines and will continue to do so for some time yet.” 

On additional manned security being provided at some banks, Arghyrou added: “We have also been asked to support some of the banks with additional manned security to help manage any queues that may form at their branches on Thursday.”