Nicaragua: Bank credit relaxed

Less requirements by the financial system to get loans for production and home acquisition.

Friday, January 30, 2009

According to the EL Nuevo Diario.com.ni: "One of the measures was to relax the Regulation for the Credit Risk Management, which came into effect on January 1, as authorized by the SIB. According to the regulation, before granting credit, the banks have to request information on the client's income, and check with the risk office at the Superintendence about the financial obligations of the client that is requesting the loan.

If it is confirmed that 40% of the income of the client are committed, the credit cannot be granted."

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