In February of this year, the Superintendence of Banks and Other Financial Institutions of Nicaragua (SIBOIF) published regulations updating the minimum capital requirements for the following financial institutions:
The minimum capital requirement for financial institutions is initially outlined in the laws applicable to each institution and is updated every two years through prudential regulations published by the SIBOIF.
The updating regulations also govern the deadlines for each operating financial institution to update its minimum capital. Newly established institutions must comply with the minimum capital requirement published in the current regulation at the time of their establishment.
Other financial institutions supervised by the SIBOIF that have not recently undergone an update in their minimum capital requirement include the following:
There are also different minimum capital requirements for insurance institutions, depending on the insurance group they operate within: Read more
