Asoban Calls for Adjustment of Financial Services Bill

The Association of Private Banks of Bolivia (Asoban) asked to adjust the Financial Services Law, in force since August 2013, which regulates interest rates in the issuance of credits. It reported that the rate of growth of new borrowers reduced from 135,000 between 2011 and 2013 to only 30,000 between 2014 and 2018, which shows a definite impact on financial inclusion. If the same regulatory structure is maintained, national banks would be severely affected in the short and medium-term.

Source: Los Tiempos