Cuban senate issues new financial system laws
Central bank, financial institutions and market infrastructure entities are all impacted
Three laws governing the Central Bank of Cuba were passed by the Cuban Council of Senate on October 16.
A statement published by the central bank says the new laws are an effort to update its economic model and operations.
The first law, Decree-Law No. 361, aims to strengthen the “direction and management” of the bank to greater support its mission and key functions. The law’s wider objective is to foster “favourable monetary, financial, credit and exchange conditions” to improve financial
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