Electronic money via mobile

Electronic money system is ready and will be implemented from this year. The project will allow that every citizen, regardless of their level of income, to open a cash account. The operation will be fulfilled at the Central Bank. After opening the account, the user must link it...

Consolidation of Produbanco and Promerica would take shape this summer

The purchase of 55% of the shares of Produbanco by the Bank Promerica has been authorized by the control agencies. Last week the entity took the first step to arrange an authorization to the Superintendency of Market Power Control (SCPM.) Ricardo Cuesta, president of Promerica...

Central Bank Announces Reform to Limit Credit

This year due to the financial crisis that Ecuador has suffered increased the economic tensions. The recent resolution of the Central Bank demands that financial entities delegate more money to the Liquidity Fund to reduce the capacity of banks to give credits and boost the...

Hogar de Cristo a Gatherer of Solidarity

Five years ago the Inter-American Development Bank asked Fundacion Hogar de Cristo (Christ’s Home Foundation) the creation of a project to support social and financial services. Brother Roberto Costa was the main responsible for handling the task. Afterwards Jaime Jaramillo...