Roundup: Paraguay financial inclusion bill, Bolivia loan relief, Ecuador digital transactions

A congressional committee in Paraguay recommended rejecting a bill that gives people domiciled in the country the right to open a bank account in local currency. 

Under the draft legislation, people, including those currently legally barred from having a current account, can open an account free of charge.

The financial inclusion-focused bill establishes as a legal minimum the right to open a basic savings account.

In a statement issued by the lower house, lawmaker Ávalos Mariño said account-opening decisions should rest with individual banks and that lenders should not be compelled to open accounts by law. 

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Bolivia’s financial services watchdog Asfi instructed financial entities to defer loan repayments without applying sanctions or penalties, state news agency ABI reported.

Under a law that entered the statute books in August, the likes of lenders are required to automatically suspend, until December 31, loan repayments to help support businesses and households weather the COVID-19 crisis.

The law modified April legislation that suspended loan repayments while a state of emergency remained in place and for up to six months thereafter.  

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Bank transactions conducted digitally in Ecuador grew 26% year-on-year over the first half of 2020, local paper El Universo reported, citing banking association Asobanca data.

Transactions conducted at physical branches fell 39%.

At Banco Pichincha, the biggest in the national system, around 70% of transactions are conducted via digital channels, the paper said.