Modifications to the Banking Law of Guatemala in 2009

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The regulations include modifications to the Law that governs banks and financial groups in order for the Bank of Gualterio to be able to grand longer term loans to the banking system and to increase the participation of the financial system in the Savings Protection Fund, said the Banking Superintendent, Édgar Barquín.

However, there will be other rules that will be applied to companies such as jewelers, car sales agencies, travel agencies, real estate agencies, and money transfer companies, which will have to report all cash transactions in order to prevent money laundering.

Source: prensalibre.com

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