Less Credit Cards in Nicaragua

Credit restrictions applied by banks is one of the reasons for the reduction. According to Juan Carlos Arguello, president of the Association of Private Banks of Nicaragua (Asobanp), the downward trend will be maintained.

"According to the Central Bank of Nicaragua (BCN), until 2008 the banking system showed an expansion of plastic money, having more than 300,000 customers.

Argüello explains that the trend changed with the financial crisis between 2009 and 2010, when there was a drop in credit in general due to the country's slower economic growth. In addition to that, the situation "merged" with the toughening up of the regulations through the Regulations for Credit Card Operations in force since 2010", reported Laprensa.com.ni.

Source: laprensa.com.ni

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