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‘Treasure hunt’ for assets of 206 co-op banks in the occupied areas

July 12, 2018 at 12:05pm
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House Refugee Committee chairwoman Skevi Koukouma will write to Finance Minister Harris Georgiades to inquire what happened to the assets of 206 Co-operative Credit Institutions in the Turkish occupied areas.

The matter was scheduled for discussion by the Committee on Tuesday, but due to the recent developments in the matter of CCB and the fact that a plenary session took place, the committee session was postponed.

Koukouma said that according to data previously submitted to the House Refugees Committee, 206 Cooperative Institutions were not reactivated after the 1974 Turkish invasion. Nine activated Co-ops own 148 properties in the occupied areas, she added Koukouma pointed out that the 148 properties remained with the Co-ops after the mergers.

She also said that representatives of the Finance Ministry had informed the Committee that they would seek to prevent property in the occupied areas from being included in the assets of the Central Co-operative Bank, but it was not clear how this would be done.

In lists submitted to the House in April 2016 the Co-operative Services records the following with respect to the real estate owned by Co-ops in both the occupied areas and the Republic of Cyprus: :

● Co-operative Central Bank: Land in Vasileia (Kyrenia), 46,781 sq m, land in Vasileia (‘spitia tis Lenous’) 45,331 sq m, land in the governor’s homes region, 160,679 sq m, a field in the Kremmos area, 19,876 sq,  a field in the Elichori area, (238,202 sq m, ground floor residence in Agios Ioannis in Ammochostos, 2,247 sq m, building in Agios Loukas in Ammochostos 6,881 sq m, plot in Agios Loukas, 1,137 sq m, plot in Agios Nikolaos in Famagusta, garden in the Diorio area, 7,408 sq m, second garden in Diorio area, 5,318 sq m, land in Dimorios area, 11,467 sq m and field in Agios Dimitrianos in Kyrenia, 6,373 sq m.

● Strovolos Co-operative Credit Company: Land in Rizokarpaso (Anavrysi, Sterkos), 20,541 sq , land in Anavrysi-Mantra, 13,404 sq m, an area of 14,093 sq m in Rizokarpaso (Anavrysi, Sterkos, Valenas). In Rizokarpaso, the Strovolos Co-op also had tens of thousands of square metres of land.

Rizokarpaso Co-op owns a field of 45,668 sq and other smaller properties.

Co-op organisations in Agios Theodoros, Peristeriopigi, Vassiliou, Komas Gialou, Marathovouni, Agastina, Trypimeni, Assia, Daflo, Eptakomi, Agios Ilias, Kontetemenos, Belapais, Ardanas, Afandas, Tavros, Gaidoura, Prastio, Katokopias, Tympou, Neo Chorio, Agios Vasilios Petras, Filias, Pentagia, Milia, Trachona et als., also owned land and real estate.

Large plots of land in the occupied areas are also owned by the Co-operative Central Bank, the Strovolos Co-op, the Makrasyka Co-op, the Rizokarpaso Co-op, the Co-operative Morphou Grocery the Co-operative Association for Agricultural Product and other co-operative organisations.