Rosa Matilde Guerrero replaces Ruth Arregui in the Superintendence of Banks, after her dismissal

The The Superintendence of Banks reported through a press release issued around midnight on February 23, that “in strict adherence to the provisions of the legal system of the country”, Rosa Matilde Guerrero Murgeytio replaces the position of Superintendent of Banks, effective February 23.

warrior is Master’s in Economics from the National Autonomous University of Mexico (Unam) and Master’s in Microfinance and Social Development from the University of Alcalá. He has extensive experience in economic matters, the entity said in its statement. Rosa Matilde Guerrero is also a trusted friend of the dismissed superintendent Ruth Arregui. Guerrero was appointed as General Superintendent of the Superintendence, the day before Arregui was dismissed by the Assembly, supposedly for having incurred in breach of duties. In accordance with the law, the general intendant must subrogate the superintendent, temporarily or if there is a permanent absence. This, until the Citizen Participation Council appoints the new titular authority.

the output of Arregui took place in the midst of a controversial political trial in which he was accused of having allowed the bank to make improper charges to its clients during the pandemic and for the Big Money case. However, Arregui defended that she did act taking the measures that she is empowered and adhering to due process.

Meanwhile, the Association of Private Banks (Asobanca) rejected, through a statement, “the false assertions against the Ecuadorian private banking manifested by several legislators in the National Assembly on February 22, 2022”, during the political trial against the magister Ruth Arregui.

During the trial, several legislators noted as one of the reasons for the dismissal of the now former Superintendent of Banks, Ruth Arregui, that this would have allowed private banks to break regulations and laws.

Asobanca emphasized that banking entities fully and rigorously comply with the local regulatory framework, even implementing international regulations with the sole purpose of offering financial services with high standards for the benefit of their more than 7 million customers.

Ecuadorian banking, assured Asobanca, contributes effectively to the development of the country and is invariably respectful of the rights of its clients. “Banking institutions cannot and should not be used as a piece of the political game, as this creates instability institutions to the detriment of the development and well-being of all Ecuadorians”, they warned.

For the financial union, andIt is important to note that, since 2019, the Superintendence of Banks has carried out technical and independent work in the supervision and control; In addition, it strictly adhered to what is dictated by international standards and best practices, contributing to a greater institutionalization of the entity.

In this way, the financial sector and the country were encouraged to walk on the path of development for the benefit of Ecuadorians, stability and institutionality are required, as well as authorities that make technical, responsible decisions away from political considerations, it was indicated.