Guatemala: Credit Unions To Be Supervised

Regulators are preparing legislation to supervise credit unions.

Monday, February 14, 2011

The new rules apply to all credit unions associated with Micoope (brand which brings together the Credit Unions Federated Cooperatives throughout Guatemala).

Lorena Alvarez from writes, "The proposal seeks to integrate financial cooperatives which provide services within the regulated system, as in most Latin American countries, said Eduardo Soto, supervisor of the regulations development department of the Superintendence of Banks (SIB).”

More on this topic

El Salvador: Unions Oppose Greater Financial Regulation

September 2016

Unions are opposed to the legal reform which aims to extend the scope of the supervision of the Superintendent of Financial System over savings and loans cooperatives.

In the view of Julio Cesar Portillo, secretary of the board of the National Commission for credit unions in El Salvador and CEO of Co-Andes de R.L.

Nicaragua to Create Financial Analysis Unit

April 2012

The law which will give life to a new supervisory body for financial and banking activities will be submitted to the legislative plenary next week.

The ruling on the law establishing the Financial Analysis Unit (Unidad de Análisis Financiero (UAF) in Spanish) will be presented on Friday and will be sent to the plenary of the National Assembly next week, said Rep.

Law Reorganising Panama's Financial System Approved

August 2011

Act 311 establishes a system of coordination and institutional cooperation between local financial control centers and creates a Superintendency of the Stock Market in the reform of Decree Law 1 of 1999 and Act 10 of 1993.

A statement by the National Assembly of Panama says that the financial system will be reordered and a Superintendency of the Stock Market created after the assembly passed the bill on its third reading.

Cooperatives in Honduras to be Supervised

August 2011

The National Commission of Banking and Insurance (CNBS) will monitor 20 credit unions in a pilot project.

The initiative, called "Strengthening credit union’s competition and financial security within supervised framework," has the support of the Inter-American Development Bank (IDB) and the Federation of Credit Unions (FACACH).

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