Regulatory Alerts2018-12-06 | CD-SIBOIF-1088-4-DIC6-2018Norm Reforming Articles 3, 8, 11 and Annex 1 of the Standard on Requirements for the Establishment of General Warehouses and Branches of Foreign General Warehouses
The Board of Directors of the Superintendence of Banks and Other Financial Institutions (SIBOIF) issued Resolution CD-SIBOIF-1088-4-DIC6-2018 to amend the regulatory framework for General Warehouses of Deposit (AGD) in Nicaragua. The reform updates Articles 3, 8, and 11 to align with current anti-money laundering, counter-terrorist financing, and new accounting standards, while strictly defining documentation, capital, and operational requirements for both domestic and foreign entities. Additionally, Annex 1 is revised to specify the technical and financial feasibility study components, including detailed infrastructure, legal, and sensitivity analysis requirements for new warehouse establishments.
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