Rising prices to 17 financial services

  The implementation of charging $1.66 for the issuance of the banks statements is one of the 17 new changes in the category “Services with maximum charges” established by resolution of the Board Policies and Monetary Regulation. Rates that were not previously...

Experts gave their version in the judgment of credit in favor of Duzac

The third day of judgment for the granting, presumably irregular, of the credit of $ 800,000 awarded by Cofiec S.A. to the Argentine Gastón Duzac, continued on March 4 at the National Court. The loan was granted in December 2011. 11 witnesses declared in the process, including...

Buñay is pointed out as responsible of $ 800,000 credit granted to Duzac

The president of the Cofiec bank, Antonio Buñay, was pointed out as the authority who allegedly “pushed” the credit official to irregularly grant a $ 800,000 loan for the Argentine businessman Gaston Duzac, despite having no guarantees. This revelation was made by...

Ecuador receives FLAR credit of $ 617.58 million

The board of the Latin American Reserve Fund (FLAR for its Spanish acronym) has approved a loan to support the Balance of Payments for an amount of $ 617.58 million for Ecuador. The operation was authorized at an extraordinary session of the organism earlier this month, whichwill...

Real-estate companies and users will be able to assume the Biess credit process

The legal procedures, such as the review of documents or contracts, which were only made by the IESS Bank (Biess) through law firms, may also be performed by real-estate companies or users .  This measure, announced by President Rafael Correa on his weekly address, aims to reduce...

Real estate companies are not accepting credit payments from the Biess

The financial institution of the Ecuadorian Social Security Institute recognized that credit delivery takes an average of six months. However, explains that this figure refers to the `scheme and previous system, i.e., the one the Tata company used to manage´.   On February 17,...