Growth in Financial Correspondents BusinessAs of June, 883 correspondents in El Salvador were registered in El Salvador, with a total of $128 million in transactions.Thursday, August 10, 2017
Most of the transactions reported by correspondents, which include shops, supermarkets, pharmacies, or natural persons, correspond to credit card and collector payments. These two types of transactions alone accounted for almost 70% of the transactions reported by correspondents up to November 2016. Source: elmundo.sv ¿Busca soluciones de inteligencia comercial para su empresa?Do you need information about the financial sector?Request more information: Need assistance? Contact us
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Guatemala: More Suspicious Transactions Being ReportedAugust 2017 In the first half of the year, bank transactions totalling $395 million were reported as having characteristics related to money laundering. Double Tax on Financial TransactionsSeptember 2014 Market actors in El Salvador claim that transactions are being subjected to double retention, both by brokerage firms and the bank related to it. El Salvador: Call to Defer Tax on Financial TransactionsAugust 2014 The banking sector has requested a period of 6 months before starting the process of withholding tax on financial transactions as approved during a recent tax reform. Banks Expands Into Shops and StoresJuly 2013 In El Salvador, any business or individual can act as a financial intermediary with the support of a financial institution.
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