Grupo Invercasa has received authorization to create and manage funds in real estate and financial investment in the country and plans to raise $150 million over the next five years.
With the creation of the fund management company Invercasa the aim is to raise investment of $150 million in the first five years of operation, primarily through the model of real estate investment funds.
Security of documents is being reinforced using a new type of paper, watermarks, and visible and invisible fibers.
The Central Bank of Nicaragua (BCN) and the Association of Private Banks have agreed to implement, as of March 15, a series of reforms for bank checks. The goal is to stop the falsification of instruments such as these used to transfer money.
Government to government agreements simplify compliance with the rule that seeks transparency in the finances of U.S. citizens abroad.
Elfinancierocr.com reports that "the Foreign Account Compliance Act (FATCA) is a reality and the truth is that to date, there are very few financial institutions in our region who are prepared to meet the requirements of this U.S. legislation. The reason: the majority are waiting for clarification on some gray areas, especially given the possibility that the U.S. government will sign intergovernmental agreements which will simplify the reporting process. "
Micro financing company Fundeser, also known as the Foundation for Socio Economic Rural Development will in February its formal application to become a regulated financial company.
Since 2008 there has been interest from the Foundation to be regulated by the Superintendency of Banks and Other Financial Institutions (Siboif), but the proceedings were suspended because of the financial crisis.
Interbolsa’s assets, liabilities and contracts have been acquired by Bancolombia in order to ensure the stable operation of the public debt market and Colombia’s payment system.
Economy and Development Report by CAF - Development Bank in Latin America -entitled Financial Services for development: promoting access in Latin America.
From the introduction of the first chapter of the report:
New technologies will be the basis for changes affecting users of financial services in the future.
Accessing your account from Facebook and financing being offered at the time you buy a product are some of the innovations that we could be seeing in the coming years in the banking industry.
International creditors, headed by the BCIE, have frozen the funds earmarked for microfinance institutions in Nicaragua.
The frozen funds amount to about $30 million, representing 20% of the total portfolio balance of microfinancers belonging to the Nicaraguan Association of Microfinance Institutions, ASOMIF.
Central American financial integration is progressing fast fueled by private sector belief that regionalization is the way to more profitable business.
Jorge Barboza, economist from the Executive Secretariat of the Central American Monetary Council (known as SECMCA in Spanish), analyzes progress and remaining actions to be taken toward Central American financial supervision and regulation.
Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings
After almost a decade of growth, remittances to Latin America and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.
Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings
After almost a decade of growth, remittances to Latin America and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.
Regulation, surveillance, and supervision of the financial systems in Central America and the Dominican Republic.
International financial innovation has become one of the factors behind the current global financial crisis. According to estimates, almost 78% of global liquidity is concentrated in derivative instruments , which have come to represent at least 94% of the global GDP. On the other hand, high powered money, only 1% of global liquidity, constitutes 9% approximately (11% and 28.4% respectively for the Central American region and the Dominican Republic in 2006).
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