Limiting the fees charged in Costa Rica and establishing a law that defines market limits in Guatemala are part of the attempts being made in the region to regulate the use of credit cards.
A law proposal presented last January before the Legislative Assembly of Costa Rica, aims to regulate the percentage of the commission paid by businesses for credit or debit cards. According to the initiative, this task would be in charge of the Central Bank and the Commission to Promote Competition.
The regulation being prepared by the Superintendency of Banks will include simplified procedures for signing contracts, paying premiums, renewals and claims made with this type of insurance.
Now that the process of public consultation of the new regulation has ended, the Superintendency of Banks is preparing to present it to the Monetary Board for approval.
The Superintendency of Banks is working on an update of the regulation on credit risk management and a new regulation of corporate governance for insurers.
Jose Alejandro Arevalo, head of the Superintendency of Banks (SIB), told Dca.gob.gt that"...
Gafilat has identified the outstanding tasks needed to bring up to date matters relating to financing terrorism, control of casinos and the inclusion of lawyers in the Mandated Persons category.
The ruling was made by the Financial Action Task Force for Latin America (Gafilat), who released the Mutual Evaluation Report, up to the date of the in situ visit made between November 23 and December 4, 2015.
Regulations are being prepared for the entry into force of the microfinance law on November 10.
Liquidity, solvency and corporate governance are some of the aspects that govern the 30 regulations prepared by the Superintendency of Banks of Guatemala, for the entry into force of thelawin November.
On October 12 and 13 representatives from the banking and financial sector will be gathering together in Panama City to discuss issues relating to regulation, business and investment.
The International Finance Summit is an event being organized by the Banking Association of Panama and will be held at the Hotel Trump Ocean Club Convention Center.
A contract has been awarded to Sigma Builders to expand 110 kms of the highway from Escuintla to Ciudad Pedro de Alvarado, on the border with El Salvador.
The work will be paid for with a $280 million loanawarded by the Central American Bank for Economic Integration (BCIE), in which, according elperiodico.com.gt, "... it was specified that Sigma should be the company behind the project, due to the fact that the Government of Guatemala had already committed two contracts with the company, which had not been executed. "
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