In its eighth episode, “From the Presidency” analyzes banking in Cuba. Photo: @PresidenciaCuba.
Cubadebate.- In its eighth episode, From the Presidency analyzes bankization in Cuba, a process that has begun with greater force on the Island since 2023, but that has encountered many obstacles in its path.
The President of the Republic, Miguel Díaz-Canel, regular host of the space, invites on this occasion Juana Lilia Delgado, Minister President of the Central Bank of Cuba, and Alberto Quiñones, its Vice President, to address the strategic importance of banking for the Cuban economy and the well-being of the population, the objective and subjective problems in its implementation, as well as the violations of what has been stipulated.
The program was recorded on June 19, at the Palace of the Revolution, Havana, Cuba.
Díaz-Canel evaluates challenges of banking operations in Cuba
Havana, June 20 (Prensa Latina) The president of Cuba, Miguel Díaz-Canel, recognized the progress that exists today in the implementation of the process of banking operations, although he pointed out that the actions carried out are insufficient.
When speaking in the space From the Presidency, broadcast on the digital platform YouTube, the president commented that during his tours through the provinces he could see that the population is now more familiar with the issue, however, there are limitations that hinder the development of the process. In its whole.
Díaz-Canel insisted on the strategic importance of carrying out bankization, for which, he noted, an action plan has been designed that “includes severe control actions to, in the shortest possible time, correct the distortions that exist.”
“Banking is not the cause of these problems, the cause is not having adequately controlled it,” he said.
The head of state emphasized that “an orderly, well-controlled bankization process, which responds to the purposes of its design, should lead, first of all, to solving problems of cash availability and would help eradicate tax evasion.”
At the time, the president of the Central Bank of Cuba, Juana Lilia Delgado, stressed that bankization plays an essential role in achieving more efficient money management, since “it helps create a credit history in the case of people who “They access banking products and are interested in obtaining credit.”
Likewise, he highlighted that this process promotes savings and constitutes an important mechanism to support the development of the economy, and reduce the use of cash.
Meanwhile, the vice president of the Bank, Alberto Quiñones, delved into the problems that have arisen in the implementation of banking and the main dissatisfactions of citizens.
According to the bank, no business in the Caribbean nation can claim the right not to accept payment by the means that the client decides, and also to do so taking into account everything established.
Quiñones explained that in some territories “graduality was not achieved in the application of the measures and certain processes were accelerated that not only depended on the will to do so, but also on prior financial training and education, which was not always complied with.” .
Banking: important step in the digital transformation in Cuba
Havana, June 20 (Prensa Latina) The process of banking operations, launched in Cuba a year ago, represents an important step on the path of the digital transformation of the Caribbean nation, the president, Miguel Díaz-Canel, stated today. .
This was confirmed by the president in a new broadcast of the space from the Presidency, which included the participation of the minister president of the Central Bank of Cuba, Juana Lilia Delgado, and Alberto Quiñones, vice president of the entity, to address the strategic importance of the banking for the Cuban economy and the well-being of the population.
The head of state explained that bankization helps to reshape a whole group of elements that make up the macroeconomic stabilization program, and is also related to controls on the levels of cash in circulation.
This process, he indicated, also affects deformations and distortions that the Cuban economy presents, associated with the non-completion of actions to have payment gateways in electronic businesses and tax evasion by economic actors.
Díaz-Canel acknowledged that the implementation of banking in 2023 was carried out at complex times because low levels of cash began to appear at the disposal of citizens.
“It was a time when there were pending salary payments and it was considered necessary to begin this bankization process more quickly,” he said.
With the transparency that bankarization is achieved, the president stressed, “we will be defending at the local level, at the territorial level, one of the sources of income or the tax route for the budgets with which growth and economic and social development are defended.” of each of the territories.
