Tuesday, 09 August 2022 21:55

BFA inaugurates information kiosk in Charlotte, North Carolina, USA

Written by Evelyn Alas

The Central Government is working to create the conditions for the Diaspora to return to their country and retire in their homeland. The BFA offers the possibility to start saving in a national bank to prepare for the return to the country of the diaspora.

In response to the clamor of the compatriots from the BFA, this information kiosk was inaugurated in Charlotte, North Carolina, thanks to the support of the Ministry of Foreign Affairs that grants us the spaces to install ourselves and to be able to be close to each person.

More than two million salvadorans live abroad, the vast majority of them in the United States, and it is this population that contributes greatly to the country's economy with their remittances.

Among some of the findings reflected in the latest report of the Economic Commission for Latin America and the Caribbean (ECLAC) "Challenges and opportunities to attract investment from the Salvadoran diaspora in the United States towards development initiatives in El Salvador 2020", the diaspora has a great interest in investing in their country of origin and requested access to financing, facilitation and transparency of the administrative procedures to be carried out, clear and reliable information on procedures, and detailed information on investment projects in which they can participate.

For the State Bank it is of vital importance to bring products and services closer to salvadorans who live outside the borders and who contribute to the development of the country from afar, generating jobs and supporting their families.

BFA's commitment is to reduce the barriers that limit the financial inclusion of the diaspora, implementing and implementing strategies that allow people to gradually achieve access to responsible and sustainable financial services.

The BFA seeks to establish a solid framework of protection for its clientele, increase their financial capacity and knowledge so that they can be informed and understand the different services and products designed to reach the most vulnerable populations in rural areas, so that they can have better control of their own finances, even if they are outside our territory.

In addition, its purpose is aimed at progressively improving operational efficiency, reducing administrative costs and optimizing the levels of financial inclusion through greater access to these services for people living abroad, thus achieving greater economic development of families in the country.

The requirements to access this information kiosk must be the following: The person must be registered in the Salvadoran financial system to qualify for the benefits that state banking and the Central Government has for the diaspora.

In the case of salvadorans with irregular immigration status, they are not eligible to enter the American financial system, for them it is very important to have an option where they can save and manage their resources with the security offered by the salvadoran financial system.

They must have BFA debit card in the VISA network will allow salvadoran residents in Charlotte to make purchases in places where cash is not accepted.

The city of Charlotte has an important community of salvadorans, whose organization and drive made it possible for the kiosk in North Carolina to be installed in that city.

The Consulate General of El Salvador in Charlotte serves salvadorans residing in "The Carolinas": North Carolina and South Carolina, also in the city of Tennessee.