Costa Rica's banks approve new self-regulating code

Banks and others in Costa Rica who use the Internet to make financial transactions will soon have a new weapon to fight electronic fraud.

Tuesday, July 29, 2008

It is the Self-Regulation Code of Good Banking Practicies, which is being proposed by the Chamber of Banking and Financial Institutions of Costa Rica.
The code establishes contractual conditions and procedures aimed at providing security. The goal is to ensure that banks are more strict in the management of electronic transactions.

More on this topic

Salvadoran Customs Opens On Line Payment System

August 2011

The Directorate General of Customs has launced the PAGOES platform (Electronic Payment of Government of El Salvador).

Through this system, users will pay fees and other costs related to import procedures such as VAT, accessories, fines and excises.

The new method of payment will expedite the paperwork, said Luis Ernesto Angulo, Deputy Director General of Customs, adding that "the user, from the comfort of their home or office, can fulfil their obligations. No more going to the bank to make all the payments. "

El Salvador Launches Real Time Settlement System

February 2010

It enables real time banking transactions between accounts at different financial entities.

It is called LBTR, a Spanish acronym for Real Time Settlement System, and will be operated by the Central Bank of El Salvador (BCR).

Carlos Acevedo, president of the Bank, told “The stock exchange may also connect to the system, as well as the Treasury.

New Code of Civil and Commercial Procedure in El Salvador

December 2008

The main changes in the code are oral hearings, and the requirement for judges to speed up the process or risk facing a monetary fine.

President Elias Antonio Saca, along with authorities from the Supreme Court presented the new Code of Civil and Commercial Procedure which will come into effect in 2010.

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