The Consumer Defense Commission of the Congress of the Republic approved by nine votes in favor and five abstentions the prediction of bill that modifies article 286 of Law 26702, General Law of the financial system and the insurance system.
The prediction relapsed in the bill 78/2021-CR, upheld on October 19, seeks that municipal savings banks can grant financial products such as that of receiving demand deposits, overdrafts, checking account advances, issuing cashiers checks and issuing credit cards.
The regulation will benefit municipal funds that maintain assets exceeding 75,000 UIT and at least three years of operation. This with the aim of guaranteeing the soundness of these entities and thus avoiding putting the financial system or savers at risk, according to José Luna Gálvez, president of the Commission.
The reform of the General Law of the financial system and the insurance system, also It will allow consumers to access better interest rates and reactivate the economy through the injection of capital into micro-enterprises..
In this regard, Congressman Ilich López Ureña from Acción Popular pointed out that the bill in the short term will reduce interest on credit card issuance services in Peru and, in addition, will promote financial inclusion.
“If we do a small analysis of how Peru is developing in terms of financial inclusion, we will see that we are still poor in this process. In rural areas, we have approximately 4% of people accessing some type of financial service, while in urban areas we are spending 15% recently, “he said during the session of the Consumer Defense Commission.
He also added that the initiative will generate healthy competition with banks and allow them to provide more reliable alternatives for the population.
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