New KSL managed Bank Account

Dear Owners

Further to a recent correspondence sent to all owners by KSL we hereby re-confirm that a new Bank Account is in force, which is under the direct control of KSL. The reasons for creating a new Bank account are as follows:

1. The Committee account was originally opened at the request of owners and held at COOP and the specific bank involved COOP Karpasia has since been taken over by Makrasyka. As such online banking was not possible, which caused delays in accounting for KSL. The take-over involved no loss of money, however it involved considerable difficulty operating the account.  
2. Some Owners recently requested the Bank Account to be managed directly by KSL, which the Committee is more than happy to oblige. 
3. By KSL maintaining the Bank Account it will give them greater control of managing accounts.
4. The above point will also facilitate to provide regular accounts for all owners as promised within the agreement with KSL. 

For absolute clarity, to view the details of the account arranged by KSL, please click the below download link.

OH5 Bank Account details - managed by KSL