National Assembly will review today the progress of the Monetary Code

The National Assembly will deal today with the advances in the Monetary and Financial Code. The analysis will feature the intervention of the President of the Legislative, Gabriela Rivadeneira, and the Coordinator Minister of the Economic Policy, Patricio Rivera. The objective of...

Insurers members discussed their implications in the Penal and Monetary Code

Members of different insurers of Ecuador came together at the Sheraton Hotel in Guayaquil this July 4th for the ‘Insurance First Colloquium, organized by’ Cóndor Insurance S.A ‘. At the conference was discussed the activities of this sector and its implications...

Assembly ratifies three articles of Monetary Code

While accepting 52 changes to the Monetary and Financial Code, lawmakers stood firm on three items that came out of the legislative text. One of these is Article 18, which refers to the functions and structure of the Advisory Council, a membership organization of civil society to...

Report on Monetary Code is ready

On its report on the veto to the Monetary and Financial Code sent by the Executive, the Commission of Economic Regime of the National Assembly, insists that the forgery and concealing of information about a financial institution must have not only criminal sanctions, but also...

Commission would agree with the presidential veto on the Monetary Code

On Wednesday, the chairman of the Commission of Economic Regime of the National Assembly, Oswaldo Larriva, confirmed that they agree with most of the 53 presidential objections to the Monetary and Financial Code, including the authority of the Superintendency of Banks of...

In 30 days, a 0.5% fee will be charged on credit purchases

In 30 days, when the Monetary and Financial Code takes effect, all persons who obtain loans or credit (for cars, for housing, for credit card purchases, etc.) will pay a fee of 0.5% on the amount of credit to finance comprehensive cancer care. According to the standard, the...

BCE with power to punish, according to Monetary Code

The Central Bank of Ecuador (BCE for its Spanish acronym) will sanction the financial institutions with fines up to $ 800,000, in the case that these undertake clearing or liquidation operations without authorization. The Monetary and Financial Code draft establishes so...

Liquidity Fund resources would go to the CAF, FLAR or the Brics

On last Saturday during his nation-wide broadcast, President Rafael Correa, referring to the partial veto on the Monetary and Financial Code, said that the investments of the Liquidity Fund, amounting to about $ 2,000 million, which aims to solve liquidity problems for private...
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