"The objective of the strategy is the development of an innovative, open, stable, reliable, secure and inclusive financial system that contributes to the digital economy and economic growth" stated the head of the Bank, Douglas Rodríguez during the presentation of the National Fintech Strategy.

This strategy is based on the creation of new tools for everyday use to carry out monetary transactions through financial technology companies (Fintech) in El Salvador. Rodríguez mentioned that several companies that have payment apps have been interested in this project.

"The strategy was reviewed and socialized by the eight members of the Consejo Nacional de Inclusión y Educación Financiera: the Banco de Fomento Agropecuario, Banco Hipotecario de El Salvador, Banco de Desarrollo de la República de El Salvador, the Defensoría del Consumidor, Ministerio de Economía, CONAMYPES, Instituto de Garantía de Depósitos and the Ministerio de Educación", said Rodríguez.

During the event, the head of the BCR mentioned that new payment methods have been created, including wallets and digital cards, so that more Salvadorans can obtain benefits from national banking.

Fintechs will have a new financial regulation, which has been launched now in order to monitor that the financial ecosystem that has been created by the BCR works optimally, explained the head of the Bank Douglas Rodriguez.

Translated by: A.M