Nicaragua is an active member of the world’s financial community. It is up-to-date in its foreign debt payments and is qualified to receive investment insurance from OPIC and MIGA. There is financing available for projects from bilateral and multilateral organizations.

• Commercial banking is handled by eleven private banks and three state banks.
• In 1991, the Private Banks Law was issued, which allows:
  1. The creation of the Banking Superintendency, to authorize and supervise the private and public banking activities.
  2. The establishment of Private Banks, Foreign Exchange, Loans & Savings Institutions, Financial Companies, Fiscal Warehouses; and in 1996, authorizes the operation of Private Insurance Companies.
  3. Only US $3 million of capital is required to establish a bank in the country.
• Private banking has gained a 70% market share in the credit market and they hold 70% of total deposits of the country.
• The privatization of the Nicaraguan Bank of Industry and Commerce ( BANIC ), programmed in 1997, represents a great opportunity for foreign investment.
• The national currency, Cordoba, is at C $9.00 for US $1.00 as of February 1997, wit programmed mini-devaluations published monthly by the Central Bank of Nicaragua (BCN ).
• A stock exchange was created in 1993 and trades I shares of former government owned entities such as the national telecommunications company ( TELCOR ) and other government securities.
• Foreign exchange is easy to acquire in foreign exchange houses and private banks.

More Information:
Email: info@ConsuladoDeNicaragua.com