El Salvador: New Financial Company Begins Operations

The Superintendent of the Financial System has authorized the Savings and Credit Society Multivalores to start operating from December 22.

Friday, December 12, 2014

Sociedad de Ahorro y Crédito Multivalores, whose main shareholder is Nicaraguan, start operations on December 22 and will be headquartered in San Salvador.

Elsalvador.com reports that "... The initial capital for the incorporation of the company Multivalores was $4,000,000, signed in April 2013 and subsequently increased its capital by $2 million, for the purpose of performing operations taking in deposits from the public on current account , through testimony of deed of amendment to the articles of incorporation. "

"... The new capital is $6 million, which is fully subscribed and paid. "

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