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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Commission of Economic Regime collects observations about Monetary Code

Posted On 30 Jun 2014

codigo-monetario-comision-desarrolloeconomicoThe Commission on Economic and Tax Regime is collecting observations on the Organic Monetary and Financial Code. Until late this week, the Commission shall have the report ready for the first debate in the Plenary and the code should be approved or rejected until July 25.

The document establishes the end of the Ecuadorian Housing Bank and the Ecuadorian Institute of Educational Credit and Scholarships, which will become a new entity that the Executive will determine by decree.

In addition, the National Development Bank will become the Rural Development Bank, and the Affiliate Bank (Biess) will be for 180 days in charge of the Superintendency of Banks. Board members will be deposed. This, while working on the amendments to the Biess Law.

All this will be a over-monitored by a Regulatory Board which will made up by the Coordinating Minister for Economic Policy, the Minister of Finance, the National Secretary of Planning, the Coordinating Minister of Production and a delegate of the President.

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