The Law on Modernization and Strengthening of Paraguayan Financial System Regulations (Law 5,787/16) modified the previous banking law in the following key ways:
ParaguayFinance and Banking
The Law on Modernization and Strengthening of Paraguayan
Financial System Regulations (Law 5,787/16) modified the previous
banking law in the following key ways:
- Initial vetting for establishment of
financial entities. The Paraguayan Central Bank ("BCP")
may reject applications to establish banks and other financial
institutions when it is not fully satisfied with the suitability of
the project or the profile of the directors, administrators or
auditors, taking into account the profile of the shareholders and
origin of its capital funding.
- Transparency regarding final
beneficiaries. The BCP may request information regarding any
shareholder of a financial entity, up to the final beneficiary of a
corporate entity shareholder.
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