Nicaragua’s government is considering a radical overhaul of its banking system. The proposed law would give the state unprecedented control over private banks’ leadership. This move has sparked concern among economists and international observers. The bill would allow the national banking regulator to appoint executives in private financial institutions. It would also grant the regulator […]

Ortega presenta proyecto de ley para controlar los bancos de Nicaragua

La Nación, Grupo Nación

Ortega Introduces Bill to Control Nicaragua’s Banks · Global Voices

Nicaragua’s Banking System Faces State Control Overhaul  Nicaragua's legislature is gearing up for a crucial vote on a bill that proposes a major overhaul of the country's banking system, effectively granting the state significant control. If passed, this legislation, introduced by President Daniel Ortega, would empower the state to appoint leadership at private financial institutions.This sweeping measure would also enable the national banking …

Devdiscourse

India

Nicaragua’s Banking System Faces State Control Overhaul

They also provide for the power to dismiss senior officials from banking institutions.

Prevén también la potestad de destituir a altos cargos de entidades bancarias.

Daniel Ortega presenta ley para controlar bancos de Nicaragua: controlarán flujos de capital

El Tiempo

Luis Carlos Sarmiento

Daniel Ortega Introduces Law to Control Nicaraguan Banks: Control Capital Flows · Global Voices

San José. Nicaragua’s president, Daniel Ortega, presented a bill to Congress this Monday to increase control over banks and empower the government to cancel appointments, remove directors and control capital flows. The Monetary and Financial System Administration Act handed over to the Superintendency of Banks, a body controlled by the government, the control of the private banking system in the country, with the capacity to intervene the instit…

San José. El presidente de Nicaragua, Daniel Ortega, presentó este lunes al Congreso un proyecto de ley para incrementar el control sobre los bancos y facultar al gobierno para anular nombramientos, destituir directivos y controlar flujos de capital.La Ley de administración del sistema monetario y financiero entrega a la Superintendencia de Bancos, ente controlado por el gobierno, la fiscalización del sistema bancario privado en el país, con cap…

Media Bias/Fact Check

The Rio Times

Brazil

Nicaragua's Banking Sector Faces Unprecedented State Control

The Nicaraguan Parliament said on Monday that it received from the Executive a bill to "integrate into a single legal body" the regulations governing the Central Bank of Nicaragua and the Superintendency of Banks, something that unofficial media see as an intervention by the government of Daniel Ortega and Rosario Murillo in the banking and "the entire national financial system."

El Parlamento de Nicaragua dijo este lunes que recibió del Ejecutivo un proyecto de ley para "integrar en un solo cuerpo legal" las regulaciones que rigen al Banco Central de Nicaragua y a la Superintendencia de Bancos, algo que medios no oficiales ven como una intervención del Gobierno de Daniel Ortega y Rosario Murillo en la banca y "todo el sistema financiero nacional".

Gobierno de Nicaragua pretende regulación integral de banca y sistema financiero nacional

Proceso Digital

Government of Nicaragua seeks comprehensive regulation of banking and the national financial system

The law “places banks in a highly vulnerable position regarding correspondent banking relationships and international operations.”  The post Nicaragua’s Dictatorship Moves to Control Private Banks appeared first on Havana Times.

Havana Times

Nicaragua

Nicaragua's Dictatorship Moves to Control Private Banks

(Reuters) – Nicaragua’s legislature is set to vote on a bill overhauling the Central American nation’s banking system, which would give the state control over appointing the leadership at private financial institutions in the country. WHY IT’S IMPORTANT  The bill, sent by President Daniel Ortega to Congress, was presented to lawmakers on Monday. The proposal would give the national banking regulator the ability to name banking executives at priv…

Investing Business Daily

Investing Business Daily | Nicaragua mulls state control over leadership of private banks

It is taken for granted that the project will be approved by the National Assembly, controlled by the ruling party, and joins another series of reforms recently designed by Ortega to increase political, economic and social control in Nica

Se da por descontado que el proyecto será aprobado por la Asamblea Nacional, controlada por el partido oficialista, y se suma a otra serie de reformas recientemente diseñadas por Ortega para incrementar el control político, económico y social en Nica

Q24N (Confidencial) On Christmas Eve, dictator Daniel Ortega sent to the National Assembly a bill for the Administration of the Monetary and Financial System that will reform the way the Central Bank of Nicaragua (BCN) and the Superintendency of Banks and Other Financial Institutions (Siboif) operate. When Ortega’s letter to the “Niño Dios” comes into effect, both entities will be under the direction of a common board of directors, which will be…

Q Costa Rica

Ortega eliminates banking secrecy and takes control over private banks

The Ortega-Murillo dictatorship continues its overwhelming race to turn the State of Nicaragua into a monarchy or sultanate so authoritarian that not even banking secrecy will exist. In an extraordinary session, the Sandinista leader sat his deputies down this Monday to move forward with a bill called “Law on administration of the monetary and financial system” with which they buried what was stipulated regarding the reservation of information o…

Nicaragua's Banking Sector Faces Unprecedented State Control

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