10 August 2022 · Corporate Update

Kashmir establishes Cyprus banking infrastructure – treasury operations commence

Kashmir Limited has established banking relationships with Cyprus-based financial institutions, marking a significant milestone in the company’s operational development. The Board approved the opening of treasury accounts with regulated Cypriot banks, providing the group with a robust foundation for its cross-border financial operations across multiple European jurisdictions.

The banking infrastructure includes the appointment of local authorised signatories and the establishment of payment processing capabilities to support the group’s growing portfolio of European operations. The framework enables efficient treasury management across Kashmir’s operating entities in Poland, Portugal, and Cyprus, with the flexibility to accommodate future expansion into additional markets.

The Board has approved comprehensive cash management policies governing intercompany transactions, foreign currency exposure, and liquidity management. These policies ensure that all cross-border payments comply with applicable regulations and are supported by appropriate documentation, including transfer pricing arrangements where required.

The establishment of Cyprus banking infrastructure represents an important step in Kashmir’s development as a professionally managed holding company. With treasury operations now fully operational, the group is well-positioned to execute on its strategic priorities across publishing, hospitality, and future investment verticals.