Currently, financial leasing operations in Guatemala amount to $1,290 million, but with the approval of the new legal framework the portfolio could increase in the medium term between $1,677 million and $1,935 million.
With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with purchase option in the Guatemalan legislation.
The Congress approved by articles and final wording the Leasing Law, a legal framework that establishes mechanisms for people to lease with option to purchase.
With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with option to purchase in the Guatemalan legislation, informed the legislative body.
Investment in leasing or lease-purchases totals $254 million and growing.
According to Mirella Juarez, president of the Association of Leasing Companies, the growth of the service is significant despite a lack of awareness in the country about the subject.
"Leasing consists of renting movable goods such as vehicles or immovable goods, such as homes, by a specialized company.
Costa Rican, Guatemalan and Panamanian SMEs will be able to tap a $10 million fund by Scotia Leasing, for financing projects.
Some 100 small and medium companies will benefit from the financing made available by Scotia Leasing Costa Rica, Scotia Leasing Guatemala and Scotia Leasing Panamá. The funds were provided for loan by the Interamerican Investment Corporation (IIC).