Plenary session carry out the first debate of the draft Monetary Code

Through a first debate, the plenary of the National Assembly discussed the Organic Monetary and Financial Code sent by the Executive on June, 25. 

The discussion was fulfilled on the basis of the Commission´s report on Economic Regime, which made observations to the government proposal. 

The President of the legislative body Oswaldo Larriva, in his speech said that the bill seeks to modify and adapt existing regulation and legislation, by promoting access to financial services efficiently. 

The objective is to strengthen national public investment, social and environmentally responsible consumption and foster the efficient functioning of the institutions created by the Constitution. 

From the analysis of the project changes were made, such as the composition of the board of the Bank of the Ecuadorian Institute of Social Security (Biess for its Spanish acronym), where is descared the proposal of the Government which stated that the body would be composed by 5 members: 3 from the Executive, one from the workers, one from the retirees, and one from the employers.