National Executive will relax the legal framework and create an interbank foreign exchange market

Published at: 29/08/2024 06:53 PM

The President of the Republic, Nicolás Maduro, during the Banking, Insurance and Securities working meeting, announced a series of measures to activate financing for companies and facilitate access to credit and policies for the population.

The Executive Vice President of the Republic, Delcy Rodríguez, announced that commercial banks will receive legal discounts agreed with the Central Bank of Venezuela (BCV) to increase the availability of resources for financial intermediation.

He explained that a fully digitized interbank foreign exchange market will work so that banks can carry out trading operations in a smooth and timely manner, depending on meeting market needs.

In addition, the BCV will issue investment instruments and will update the national bank's fee and commission scheme, as it is out of date. In addition, taxpayers will be able to pay their internal taxes through digital platforms and, likewise, they will proceed to withdraw the banknotes from the previous monetary cone.

Mazo News Team