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BCE confirms support of electronic money

Posted On 04 Jun 2014

372dinero-electronicoThe Central Bank of Ecuador (BCE for its Spanish acronym) yesterday issued a resolution that contained the Title I of theProcedure and Operation Manual (MPO) of the electronic money system.

This advance contains three articles in which the BCE says that “electronic money in circulation will be recorded as a liability in an account in the balance of the BCE and shall be backed at 100% with cash assets of the BCE.”

The delivery of electronic money to individuals or corporations will be held by the BCE in a directly form or through authorized agents  “against dollars of the United States of America exchange, currency issued by the BCE or dollars of the United States of America deposits duly accredited in favor “of the BCE. The rest of rules will be issued in September of this year.

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LATEST NEWS

A bacterium protects the lupine from its main threat and would increase grain production in Ecuador

Posted On 26 Feb 2021

Despite pandemic, air transport of flowers was the second best in eight years

Posted On 26 Feb 2021

Germany, Ecuador and Ghana concerned about marine plastic pollution

Posted On 26 Feb 2021
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