Government preparing bank regulation overhaul - Asoban head

Thursday, April 7, 2011

The Bolivian government plans to prepare a bill with comprehensive new banking sector regulations, though the project is still in such an early stage that no one knows what it might contain.

"We haven't the slightest idea," banking association Asoban head Kurt Koenigsfest told BNamericas. "We know that it's on the list of issues that are going to be dealt with by the assembly."

Koenigsfest, who is also the head of microfinance bank Bancosol, said he expected that any overhaul of financial sector regulations would probably contain provisions to increase financial inclusion and encourage banks to expand into rural areas.

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Though the association has yet to have any formal discussions with the government on new regulation, Koenigsfest emphasized that the relationship between the Bolivian government and the banking sector has always been very good.

"Both parties have been very well disposed to dialogue, coordination and working together," he said.