For several years, the Bank of Cyprus Cultural Foundation has sponsored the annual competition announced by the Cyprus Board on Books for Young People (CYBbY) for the writing of children and young people's literature — the only institutionalised competition of its kind in Cyprus. During this period, more than sixty works have been awarded prizes and commendations. As early as 2000, it was decided to publish the works of competition winners, and more than fifteen works have been published to date. The competitions are addressed to a Greek-speaking audience.

A crucial step in the development of this competition was the BoCCF’s decision to award a separate prize, on a competitive basis, for the illustration of the winning work. 

1. Literature Competition (CYBbY) Unpublished Novels. First prize, second prize, commendations and honorary diplomas are awarded.
2. Literature Competition (CYBbY) for an Emerging Author of Children's Literature. First prize, commendations and honorary diplomas are awarded.
3. BoCCF Illustration Contest of the winning book from the annual KSPNB writing contest. First prize and commendations are awarded.