Banking

Cubans Can Now Open Foreign Currency Accounts

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As of next Monday, Cubans will be able to open foreign currency accounts at the following banks: Banco Metropolitano, Banco de Crédito y Comercio and Banco Popular de Ahorro. These accounts can be used for the import and purchase of high demand consumer goods. Irma Margarita Martínez Castrillón, Minister-President of the Central Bank of Cuba (BCC), stated that specific banking products had been designed in order to facilitate the process of buying consumer goods through state-owned companies in foreign currency. Cuban citizens and foreigners with permanent residency status will be able to open these foreign currency accounts. Ms Martinez also stated that these can be either single or joint accounts. The account holder will receive a debit card to conduct banking transactions because cash is…

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