Regulatory Alerts2022-01-01 | JPRF-F-2022-048Social Balance Standard for Savings and Credit Cooperatives and Mutual Savings and Credit Associations for Housing
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-F-2022-048 to establish a Social Balance Standard for Savings and Credit Cooperatives and Mutual Savings and Credit Associations for Housing. This regulation mandates that these entities incorporate a Social Balance into their management reports to demonstrate compliance with social principles, identity preservation, and impacts on community, environmental, educational, and cultural development. The standard requires entities to define minimum aspects, adhere to cooperativist principles, and utilize specific methodologies and manuals to measure and report on their social responsibility and socio-economic management.
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