Regulatory Alerts2015-07-02
Circular Letter No. 11: Consumer Credit
The Bank of the Republic of Haiti issued Circular Letter No. 11 requiring all new consumer credit to be granted exclusively in gourdas starting July 6, 2015. This mandate aims to safeguard the stability of the banking system by mitigating risks associated with credit portfolio deterioration. Non-compliance with this directive subjects violators to penalties of up to 25% of the credit amount granted in violation of the rule.
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