New Nicaragua law may isolate local banks

Nicaragua_Getty

Nicaragua’s national assembly passed legislation on February 9 that may force local banks to maintain accounts for people on US government sanctions lists.

The Nicaraguan business and financial services sectors have expressed concerns that the new law may see them barred from international financial transactions.

The new law does not give sanctioned individuals the right to use banking services directly, but says banks must give cause for discontinuing relations with them. These decisions must

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: