españolHonduras launches financial education campaignWednesday, November 5, 2008 The Honduras Association of Banking Institutions will try to decrease the risks and delays in the use of credit cards with a financial education campaign at the national level. The program to be implemented includes several bases (education, public relations and advertising) that will be used to facilitate a culture of responsibility and to create awareness about the possible impact of the global financial crisis. El Salvador: New Financial Company Begins OperationsFriday, December 12, 2014 The Superintendent of the Financial System has authorized the Savings and Credit Society Multivalores to start operating from December 22. Sociedad de Ahorro y Crédito Multivalores, whose main shareholder is Nicaraguan, start operations on December 22 and will be headquartered in San Salvador. Panama: New Regulations for Credit CompaniesFriday, September 18, 2009 The Commerce and Industries Ministry is preparing the regulation, which could be ready in two months. Setting maximum limit for interests, in addition to regulationg closure expenses, are the key issues of these new rules. Financial Companies Unregulated in Costa RicaMonday, February 23, 2015 Iconi Holding and Intermarket are the companies that the Securities Regulator has warned not have support or supervision in the country. The Superintendency of Securities (Sugeval) has updated the list of unsupervised and unregulated entities for which reports have been received of possible unauthorized securities offerings, which could even be fraudulent. "Inconsistencies" in Panamanian Finance CompanyFriday, March 30, 2012 Supposedly only 12 loan transactions have been recorded in the four years that Pronto Cash has been operating. According to an article in Panamaamerica.com: "The Ministry of Trade and Industry (MTI) announced yesterday that it has not yet completed the audit which it is carrying out on the lender Pronto Cash, but said they have found several inconsistencies in the operations of the company which is also being investigated by the Attorney General and the Superintendent of Banks for allegedly taking funds illegally." IMF: Worst yet to comeTuesday, October 7, 2008 The International Monetary Fund (IMF) supports rescue plans but warns that the banks will have greater losses. The IMF warned that losses related to loans in the US and financial assets linked to these could reach $1.4 trillion. List of Informal Finance Companies in Panama GrowsThursday, January 17, 2013 The number of companies or individuals raising money from investors without authorization from the Superintendency of Banks now totals 73. Since 2000 to date 73 companies have been reported as raising money from investors without a proper license to operate in the country. Nicaragua: Financial Entity in DefaultMonday, February 11, 2019 Because Financia Capital S.A. does not have the funds available to meet its obligations, it was revoked the authorization to make a public offering of fixed income securities. The Superintendence of Banks and Other Financial Institutions (Siboif) informed that its authorization was revoked because "... the representatives of the issuer Financia Capital S.A. El Salvador: Technical Standards for Law on UsuryTuesday, June 28, 2016 The changes in the technical standards governing the Usury Act which will be in effect from June 27 detail the information that must be provided by financial institutions when lending. From a report by the Central Reserve Bank of El Salvador: IFRS for SMEs in GuatemalaFriday, July 23, 2010 Guatemala's College of Auditors and Public Accountants has agreed to adopt the International Financial Reporting Standards (IFRS) for small and medium sized enterprises (SMEs). On 13 July, 2010, Guatemala's official government newspaper published the agreement that brings into being the standard. The agreement is found in official note number JD 140042010 from the board of the Guatemalan Institute of Auditors and Public Accountants (IGCPA). "Government should intervene whenever they have to"Monday, October 13, 2008 The president of the El Salvador Stock Exchange explained his vision about the financial crisis in the US and its root causes: lack of efficient supervision. Rolando Duarte Schalegeter has been the president of the Exchange since 1999. This entity, in which all buying and selling of stock are carried out and the offering of public debt by the Government, is recognized as one of the region's most modern, and has headed the process of integrating regional capital markets along with Costa Rica and Panama. Costa Rica: Global Conference on Business and Finance (GCBF)Tuesday, February 21, 2012 An academic event for 2012 by the Institute for Business and Finance Research, LLC (IBFR), will take place from 22nd to 25th May in San Jose. You are invited to participate in the Global Conference on Business and Finance (GCBF) 2012 in San Jose, Costa Rica. IFRS Regulations In Effect in NicaraguaMonday, July 18, 2011 Since June 30th the country has been applying the International Financial Reporting Standards (IFRS) for the preparation of financial statements. The new rules allow companies to submit their accounting information in a simpler, more expeditious manner in line with international regulations. Accountancy Congress in NicaraguaWednesday, May 28, 2014 Accounting professionals in Latin America and other regions will meet in Managua on October 1st-3rd. The Institute of Chartered Accountants and the American Accounting Association have organized the conference "Integral Training in Support for Economic Development" to be held at the Crowne Plaza Convention Center in Managua, Nicaragua, from 1 to 3 October this year. Panama Withstands Crisis Better Than OthersTuesday, March 17, 2009 A report published by the Comptroller General of Panama yesterday shows that the most important activities of the economy continued to grow. Roberto Gonzales wrote in laprensa.com: "The revenue from Canal tolls, value of approved building permits, bank intermediation and arrival of tourists to the country marked positive results with respect to the same month in 2008." |
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