Amount allowed in e-money transactions increases
Written by Coralia CuellarAs part of the actions being taken in the country to move more and more towards the use of formal banking, that is to say, financial inclusion, the Central Reserve Bank (BCR) approved adjustments that increase the amounts for operations with electronic money.
Guadalupe Escobar, from the Standards Department of the BCR, said in an interview with www.dinero.com.sv, that the changes are due to those established by the Financial Inclusion Law (LIF), which states that every two years it must be updated, as well as the variation in the Consumer Price Index, for example changes in the minimum wage that was increased; therefore it was necessary to take into account it.
Government supports innovation fairs, and financial education
Written by Sandy VelascoThis year, governmental authorities of the financial system announced the launch of the Financial Education and Innovation Fair 2019, within the framework of the Financial Education program in the country, which will take place on August 16, 23 and 30 in the eastern, western and central areas of the country, respectively.
With the proliferation of Internet based financing systems, various fintech business models have been generated with the objective of streamlining the economic operations of companies, corporations, and individuals through platforms based on financial technology. This is being promoted by the authorities of the sector in the country.
Fears of recession arise after losses on Wall Street from falling treasury bond yields
Written by AgenciesUS shares suffered one of the most significant sales of the year, and treasury bonds emerged as growing signs of a global economic slowdown increased fears of an economic downturn.
The concern of a recession arises from the reversal of bond yields, where short-term loans - two years - are higher than long-term loans (10 years) which creates uncertainty because it is a sign of recession.
Davivienda will be part of the innovation at the Financial Education Fair
Written by Sandy Velasco“Mis Finanzas En Casa y Monetarium” are Davivienda's financial platforms ideal for children, young people, and adults to know for free the effective handling of money. Davivienda El Salvador, through its Financial Education program that it has been promoting since 2016, with the objective of improving customer confidence in the financial system and banks, will be part of the Innovation and Financial Education Fair that will be held on August 16, 23 and 30 in Santa Ana, San Miguel, and San Salvador.
Ministry of Finance considers elimination of CIP
Written by Magaly AbarcaThe Minister of Finance, Nelson Fuentes considered in a television interview that in order to pay better pensions for citizens, and not complicate public finances it is necessary to end the Certificates of Pension Investment (CIP).
CIPs are public debt instruments issued by the Provisional Obligations Trust (FOP), and Pension Fund Administrators (AFPs) are obliged to buy them with the money of their contributors at a rate of return established by law.
