FORMER MINISTER OF FINANCE OF THE REPUBLIC OF CYPRUS TAKIS KLERIDES

Former Minister of Finance of the Republic of Cyprus

Takis Klerides, born in Nicosia, Cyprus in 1951 is a Fellow of the Chartered Association of Certified Accountants of the UK.

Having worked in the UK and Greece, he joined KPMG – Cyprus in 1977 where he became a partner in 1981.  He specialized in Banking, Finance, Insurance and Oil and Gaz.

In March 1999 he was appointed by the President of the Republic of Cyprus to the post of Minister of Finance (a post he held until 2003).  Responsibilities included amongst others, Inland Revenue, VAT and Customs & Excise, Treasury, Government Statistical Office, Human Resources / Civil Service, Information Technology Department, Planning Bureau (responsible for economic planning and EU accession negotiations).

During his ministerial term he introduced a major Tax Reform in 2001 to harmonize Cyprus tax legislation with the EU, through which Cyprus managed to close the chapters on Taxation (including Shipping) and Competition.

Since 2003 he is a non-executive Director in publicly quoted and private companies in Cyprus and overseas, including participation in corporate governance committees (Audit and Remuneration Committees).  Serving on the Board of Directors of companies listed on LSE, regulated by European Central Bank and regulated by Insurance Commissioner Cyprus.  His main interests are in banking, finance, insurance and shipping.

On the non-professional activities he serves on the Board of The Leukemia Research and Bone Marrow Donors Foundation as well as in various positions in the European Basketball Federation, having served before his ministerial duties as Chairman of the Cyprus Basketball Federation for 10 years and a member of the Cyprus Olympic Committee.