Skip to Navigation

Banks

Venezuela's Banks Increased Development Loans by 50% in 2013

Over 40% of bank loans in Venezuela went towards development projects in areas ranging from agriculture to tourism, according to

Agricultural loans, micro-financing and other financing for national development projects rose by 50.73% in Venezuela last year, according to the country's Superintendent of Banks (Sudeban).

» read more

Low Interest Credit Card and No Fee Bank Card Available to Venezuelan Youth

Two people with their new Somos card (AVN)

As of today young people in Venezuela can obtain credit and debit cards at non-profit rates, as part of a plan to incorporate more youth into the financial system.

» read more

Venezuelan Government Increases Banking Sector’s Obligation to Fund Construction and Mortgages

The financial obligation applied to both state-owned and private banks (Minci)

The Venezuelan government has increased the banking sector’s financial obligation to fund construction and provide low interest mortgages as part of policies to broaden access to affordable housing. 

» read more

Venezuela Increases Banks’ Obligatory Social Contributions, U.S. and Europe Does Not

One of the branches for the state run "Bicentenary bank" (aporrea)

Whilst the rest of the world’s population continues to pay for the global financial crisis with their jobs, homes, education and health, and as bankers continue to award themselves millions of dollars in bonuses, the Venezuelan government has increased the percentage of net profits which banks must grant in credit to national social programs, demonstrating what a regulated and socially orientated banking system could look like for the rest of the world.

» read more

Bank Owner Suing Venezuelan Government for US$ 1 Billion

A closed Banco Federal branch last year (archive).

Nelson Mezerhane, president of Banco Federal, which the Venezuelan government expropriated last year for failing to have minimum liquid assets, is suing the government through a US court, claiming the bank was “illegally seized for political reasons”.

» read more

Interpol Blocked 40% of Red Alerts for Venezuelan Bankers

More than 40% of the red alerts requested of Interpol by Venezuela in the case of the fugitive bankers have been blocked over the last year, by a committee of lawyers working for the international organisation. 

» read more

Why Washington Hates Chavez: Venezuela vs. the Banks

U.S. Secretary of State Hillary Clinton and Venezuela's President Hugo Chavez shake hands as other Latin American leaders l

Caracas suffers from a massive housing shortage that's gotten much worse because of the flooding. Tens of thousands of people need shelter now, which is why Chavez is putting pressure on the banks to lend a hand. In Chavez's Venezuela, the basic needs of ordinary working people take precedent over the profiteering of cutthroat banksters.

» read more

Venezuelan National Assembly Passes Law Making Banking a “Public Service”

Venezuela´s National Assembly is passing a series of pro-Revolution laws before formally passing over their responsibilities to

Venezuela´s National Assembly on Friday approved new legislation that defines banking as an industry “of public service,” requiring banks in Venezuela to contribute more to social programs, housing construction efforts, and other social needs while making government intervention easier when banks fail to comply with national priorities.

» read more

International Fair Promotes Tourism in Venezuela

Angel Falls (Earth Guide)

President Chavez inaugurated the International Tourism Fair this week as part of Venezuela’s efforts to expand and growthe national tourism industry. He later hosted an important event to socialize the banking system and provide low-interestcredits to communal businesses.

» read more

Reformed Venezuelan Bank Law Separates Banks and Media

Legislators approving the Bank Law yesterday (National Assembly website)

Yesterday, in an extraordinary sitting, the National Assembly passed a reform to the Bank Law which affirms that media owners and stock holders cannot manage banks.

» read more

Syndicate content