Davis Polk wins firm of the year plus all the night’s winning deals, teams and individuals
IFLR is delighted to announce the shortlist for the IFLR Americas Awards 2022 – winners will be announced at the awards ceremony in New York on May 19
The Americas awards research cycle has now begun – don’t miss out on this opportunity to get recognised
On October 25 2017, the Law of Secured Transactions (Law 936) came into force with the purpose of stimulating access to credit for individual traders, small and medium enterprises, and other institutions that due to the nature of their assets were not subject to financing at competitive interest rates.
According to the Economy and Growth Prospects 2017 report published by the Central Bank of Nicaragua (BCN), the results of Nicaraguan macroeconomic development remain among the best in the region.
Rodrigo Taboada Ana Carolina Álvarez On October 6 2016, the Nicaraguan Congress approved the Ley de Garantías Mobiliarias (the Law of Security on Movable Assets). This has been described as a legal instrument that will, among providing other benefits, enable small producers, and micro- and medium-sized companies to access bank credit and micro finance institutions using their own assets as security. This will be done through the subscription of a written agreement between the grantor and the creditor that may be in a public, private or electronic document.
The Central Bank of Nicaragua, in its capacity as the regulator of the country’s payment systems, has authorised the first automated clearing house manager in Nicaragua
Rodrigo Taboada Over recent years, the Nicaraguan financial system has progressively grown and strengthened. According to recent studies of the Nicaraguan Foundation for Economic and Social Development (FUNIDES) the financial sector growth rate is second only to the construction sector among the economic sectors that are included within the monthly economic activity index.
Sponsored by Consortium LegalEver since the Republic of Nicaragua became a member of the Financial Action Task Force of Latin America (GAFILAT), Nicaragua has experienced a gradual, yet impactful, overhaul in its provisions regarding prevention, detection and criminalisation of activities involving money laundering and financing of terrorism.