Banking in Cuba is evolving. A new law, Resolution 73/2020 of the Central Bank of Cuba (BCC) published in the Gazette of the Republic, allows non-resident Cubans to open bank accounts in MLC (freely convertible currency) for retail sales and the importation of... More »
On June 14, 2016, AP news agency reported that Stonegate Bank of Pompano Beach in Florida would issue the first US credit card intended for use in Cuba. This is wonderful news for the innovative, trailblazing Stonegate Bank, and also for Cuba and American tour... More »
The existing US embargo against Cuba is still creating immense financial and banking problems for Cuba. While most people believe that all is “rosy” with all the “feel good” news stories such as the Obama visit, fashion, celebrities, rock stars and the recent... More »
This year Banco Popular de Ahorro (BPA) created an online banking service for the private sector banking in Cuba. The service is a move to reach out to small business clients in the nation. In an interview with AIN, Greicher La Nuez, Director of Investment… Yo... More »
A US and Cuban bank have signed an agreement to create a correspondent banking relationship. Stonegate, a commercial bank located in Pompano, Florida and the Banco Internacional de Comercio in Havana are moving forward with the agreement. Such a deal will r... More »
The most recent, successful talks between the US and Cuba have focused on re-establishing a banking relationship in between the two countries. Banks already based in Cuba include Canadian banks Scotia Bank and the National Bank of Canada. Other foreign banks... More »
The current banking system in Cuba is governed by the Banco Central de Cuba (Central Bank of Cuba). Currently there are nine commercial banks, 15 non-banking financial institutions, 10 representative offices of foreign banks in Cuba, and three representative ... More »
