Greece, a southeastern European country with a rich history, has been gradually rebuilding its financial sector following a prolonged economic crisis. The Greek financial system comprises banks, insurance companies, and asset management firms, which are working to regain the confidence of foreign investors and international businesses. The country’s commitment to implementing structural reforms, its strategic location at the crossroads of Europe, Asia, and Africa, and its membership in the European Union (EU) make it an attractive destination for companies seeking to establish or expand their presence in the region. Greece’s efforts to strengthen its regulatory framework, develop its workforce, and promote innovation further contribute to its appeal as a growing financial center.

Financial regulation in Greece aims to ensure the stability, integrity, and efficiency of the financial system while protecting the interests of consumers and investors. The Greek regulatory framework is rooted in national legislation and shaped by EU directives and international standards set by organizations such as the Basel Committee on Banking Supervision and the Financial Action Task Force. This comprehensive approach to financial regulation enables Greece to maintain a transparent and well-functioning financial market that fosters investor confidence and promotes economic growth. Greek regulatory authorities work collaboratively to oversee the various segments of the financial sector, coordinating efforts to identify and mitigate potential risks and ensure the overall stability of the financial system.

The main financial regulators in Greece include:

Bank of Greece (BoG): The BoG serves as the country’s central bank, responsible for maintaining monetary stability, ensuring the smooth functioning of the nation’s payment systems, and contributing to the formulation and implementation of macroprudential policy. The bank also plays a role in financial stability and supervises credit institutions, insurance companies, and other financial institutions.

Hellenic Capital Market Commission (HCMC): The HCMC is the regulator of the Greek capital market, overseeing the operations of securities issuers, investment service providers, and asset management firms. Its main tasks include ensuring market integrity, transparency, and investor protection.

Financial Intelligence Unit (FIU): The FIU is Greece’s financial intelligence unit, tasked with preventing and detecting money laundering, terrorist financing, and other financial crimes. It collects, analyzes, and disseminates financial intelligence, cooperating with domestic and international partners to combat illicit financial activities.