Regulatory Alerts2002-11-25 | CD-SIBOIF-226-2-NOV13-2002Added · Updated
Norma on the Purchase by Banks of Their Own Shares
Banks supervised by the Superintendencia de Bancos y de Otras Instituciones Financieras in Nicaragua are authorized to purchase their own shares only with the prior written authorization of the Superintendent and exclusively for two purposes: reducing social capital or simultaneously purchasing shares from one or more shareholders alongside new capital contributions by other shareholders, provided there is no net reduction in paid-up social capital. This regulation is incorporated into the applicable investment and placement rules based on the entity's business activity and becomes effective upon notification to supervised entities, regardless of its publication in the Official Gazette.
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