Group internal legal advisor | Cyprus Trading Corporation
Maria Kaimi
Group internal legal advisor | Cyprus Trading Corporation
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
John F. Kennedy once remarked that ‘When written in Chinese, the word crisis is composed of two characters—one represents danger and the other represents opportunity’. This perspective underscores the importance of how we manage crises. The key to navigating legal challenges during periods of instability lies in proactive planning, clear communication, agile response transparency with all stakeholders.
The Covid-19 pandemic taught us the value of a robust legal framework and strong corporate governance in managing crises. During such times, it is crucial to understand and mitigate potential legal risks, which encompass industry regulations, contractual obligations, data protection, and other external factors.
Corporate governance plays a vital role in ensuring that our organisation remains resilient. Effective governance structures ensure that decision-making processes are transparent, accountable, and aligned with the organisation’s values and strategic goals. By adhering to strong governance principles, we maintain trust with stakeholders and ensure that our responses to crises are well-coordinated and legally sound.
Our contribution as legal professionals in such situations is indispensable. We are instrumental in identifying and addressing legal challenges as they arise, offering creative and practical solutions to mitigate risks and ensure compliance. Our expertise and knowledge help us to navigate complex legal landscapes, adapt to changing circumstances, and make informed decisions that support the organisation’s continuity and resilience.
Our legal strategy is designed to align closely with the broader business strategy, ensuring organisational resilience. This alignment is achieved through developing a robust legal plan before crisis hits, honest communication between all stakeholders, providing prompt legal advice and adaptation to new challenges with innovative solutions and upholding the organisation’s reputation by acting transparently and responsibly.
By integrating strong corporate governance with a responsive legal strategy, and using the problem-solving skills of the legal team, we ensure that our approach to crisis management not only addresses immediate challenges but also strengthens our overall organizational resilience. As our Founder and Honorary President asserts, crises should be viewed as opportunities for transformation and progress. History shows that crises can drive significant positive change, and we strive to lead by example, leveraging challenges as chances to reset and achieve our organisational goals.
In your opinion, what are the main trends that are salient in your country currently?
Cyprus, strategically positioned in the Eastern Mediterranean and the only European country with a divided status, is currently experiencing several key trends shaping its landscape across various sectors. The main legal trends emerging in Cyprus can be summarised as follows: regulations and laws are being updated to mandate green business practices and promote sustainability, reflecting a growing emphasis on environmental responsibility; authorities are enforcing stricter regulations and compliance measures to enhance transparency in financial transactions and effectively combat financial crimes; the adoption of digital and technological tools for document automation, case management, and client communication is on the rise, driving efficiency and innovation in legal practices; recent amendments aim to support remote work, promote workplace diversity, and provide enhanced protection for employees, adapting to modern work environments and evolving employee needs; and Cyprus reunification remains a significant and salient trend, with ongoing efforts focused on resolving longstanding divisions. This process involves complex negotiations, legal and constitutional preparations, and extensive diplomatic engagement to address key issues and work towards a unified future for the island
Group internal legal advisor | Cyprus Trading Corporation