Between 2015 and 2016 issuance of checks in the country fell by 5%, while the use of electronic banking continues to grow.
The former president of the Banking Association of Guatemala (ABG), Luis Lara Grojec, explained to S21.gt that "... electronic banking will continue to grow in the coming years, but more than services through computers, there will be an increase in the use of applications on mobile devices, such as cell phones and tablets.
Although it was expected to happen this year, the legislation that standardizes the issuance and circulation of checks will enter into force in February 2016.
The Superintendency of Banks in Panama, working in conjunction with the rules on banking union, announced that the new rules will come into effect in February 2016, and the checks that have been issued before this will have a period of 18 months after the entry into force of the new standard to be taken out of circulation.
The Superintendency of Banks is preparing regulatory changes in order to reduce the time it takes to clear a check from three days to just one.
The rules that the regulator has proposed in Agreement 1-2014, issued in March, aims to improve safety and modernize the means of payment of the country, punctually, standardizing checks circulating in the Panamanian financial center.
It would affect the banking sector in El Salvador, lowering the volume of transactions in the financial system, and increasing the price of money.
The Salvadoran Banking Association (Abansa) is studying a proposal by the Ministry of Finance to tax the issuance of checks and electronic transactions, but its representative Marcela de Jimenez has already indicated her criticism, noting that it has not been ruled out "that this tax will affect the banking system, ie, there will be a decrease in the level of resources that are traded through the financial system and therefore an increase in the price of money. "
The bill proposed by the government will levy a tax of 0.25% on the amount of electronic transactions and checks.
The bill entitled "Law on Taxes for Financial Operations", introduces a tax on checks and electronic transfers and a tax to control liquidity that applies to those transactions amounting to over $3,000.
Costa Rica's Banco Nacional and Banco de Costa Rica have unified their computer networks to improve client services.
The banks' two million clients generate transactions of about 10 billion colons (some US$20 million) a month. Now cash and checks deposited at either institution will be instantly reflected in accounts of the other, with having to wait for clearance.
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