Pressure to Pass Financial Leasing Law

In Guatemala, companies report to have lost several credit opportunities because the bill presented to Congress in 2015 has not yet been approved.

Friday, May 10, 2019

The bill that is being analyzed in Congress and is in third reading since May 2016, establishes the legal framework for entities such as banks and financial companies to include leasing in their product portfolios.

Three amendments have been made to this initiative, which includes the creation of real estate contracts, housing and housing with social interest.

See "Guatemala: Financial leasing law" reviews that "... So far the financial leasing is done in practice, however, does not have a legal framework that leads it to be a credit figure that becomes several legal loopholes. The advisor of the top office of the Ministry of Economy (Mineco), Carlos Ganddini, explained that because of the lack of agreements in the Legislative many small and medium enterprises (SMEs) have lost credit opportunity."

Acisclo Valladares Urruela said that "... the initiative is in Congress and has had approaches to promote the economic agenda for this year with several blocks. We urge the Legislative to advance in this legislation to contribute to economic growth as it is a tool to access financing."

See article in "Leasing Law still not approved in Congress" and in "What is housing leasing, and why it is a viable option in Guatemala".

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Guatemala: Law on Financial Leasing

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A bill is being discussed in Congress which establishes a legal framework so that banks and financial institutions can include leasing in their product portfolios.

From a statement issued by the Congress of Guatemala:

Members of the Legislative Commission on Economy and Foreign Trade, chaired by Deputy Aristides Crespo Villegas, met today with the goal of favorably ruling on bill 4896, which includes providing legal certainty and regulating leasing activities in the country, known as the "Leasing Act".

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