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Remittances: Aiding the Individual or Private Business?

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The eventual legalization of small and medium-sized private companies, together with the strengthening and greater autonomy of municipalities in the new territorial division endorsed by the new Cuban Constitution could become opportunities for investment of re... More »

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Cuba Signs Agreement with CABEI

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Cuba has signed an agreement with the Central American Bank for Economic Integration (CABEI) approving the request for entry as a non-regional member.  The agreement will fortify Cuba’s relations with countries in the Central American and Caribbean region.  Si... More »

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Cuba and the Big Banks

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It’s safe to say, that at the current time, there’s a massive problem in the existing relationship between Cuba and the big banks.  The overlying reason for this is the American embargo/blockade and the genuine fear of the big banks of the enormous fines impos... More »

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Mastercard Now Functioning at Havana ATMs

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Cuba’s central bank and U.S. financial institutions are improving working to improve collaboration on matters of remittances and credit cards regardless of legal problems forced by Washington’s blockade again the Island. Prior this year, as a major aspect of h... More »

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OFAC Amendments Prior to the Visit of Obama

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Prior to President Obama visit to Cuba, the BIS (American Commerce Department’s Bureau of Security and Industry) and OFAC (American Treasury’s Foreign Assets Control Office) made amendments to EAR (Export Admin Regulations) and CACR (Cuban Asset Control Regula... More »

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Scotiabank to Maintain Presence in Cuba

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  As relations between the US and Cuba evolve, Canadian corporations and banks are moving into Cuba quickly.  Scotiabank recently announced its return to the Island, with an office in Miramar.  Scotiabank will be offering a wide range of correspondent banking ... More »

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