Cuban president considers bankarization as important for the economy

 

HAVANA, Cuba, Aug 8 (ACN) Miguel Diaz-Canel, first secretary of the Central Committee of the Communist Party of Cuba and president of the country, described today as an important step for the economy the process of bankarization implemented in the country.

The Cuban leader assured on Twitter that he is aware of the debates generated on the subject, while explaining that this measure will be implemented gradually.

We call on all those involved to provide more information and answer the doubts of the population and economic actors, Diaz-Canel insisted.

As explained by Joaquin Alonso, president of the Central Bank of Cuba (BCC), and Alberto Quiñones, vice president of the institution, since last August 3 the country adopted a group of measures for the bankarization of operations in order to increase the use of electronic payment channels.

In this process, the Central State Administration agencies, local governments and all the economic actors of the society participate and will allow to continue empowering the economy and enhancing the possibilities that the banking system offers to the development of the country, Alonso added.

The president of the BCC stated that this is a gradual process, for which they estimate six months, and does not imply that cash will disappear, but that those who use electronic payment will obtain benefits such as discounts.
He recalled that among the electronic payment channels available are ATMs, point-of-sale terminals, as well as telephone banking and remote banking.