The savers of the liquidated cooperative Credicoop Arequipa they might get some of their money back sooner than they expected. Yesterday the Superintendence of Banking, Insurance and AFPs (SBS) announced that at the end of February they will begin with the return of deposits to the affected members. This will be possible because the SBS […]
Tag: cooperatives
Midagri started a national registry of agricultural cooperatives to create a database
The Ministry of Agrarian Development and Irrigation(Midagri) started the register of agricultural cooperatives in the country. The objective of this initiative is create a single decentralized national database that allows to properly identify and know the agricultural cooperatives, community cooperatives and central agricultural cooperatives, as reported by Midagri. “The existence of a registry will contribute […]
Cooperatives will be able to access the guarantee program for loans from the financial system
The Executive Power issued an emergency decree on Monday that establishes extraordinary measures to strengthen the system of savings and credit cooperatives not authorized to attract resources from the public (Coopac). The Urgency Decree No. 111-2021 is intended to allow access to the National Government Guarantee Program for Financial System Companies to savings and credit […]
SBS: eight of the nine intervened cooperatives could reverse the situation
The superintendent of the SBS, Socorro Heysen, informed the Production, Mype and Cooperatives Commission that eight of the nine cooperatives intervened have the possibility for the partners to reach an agreement through a prior assembly that enables cooperativists to resolve their situation and make a capital contribution that allows them to get out of the […]
SBS freezes savings in intervened cooperatives for 45 days
A couple of days ago, the Superintendency of Banking, Insurance and AFP (SBS) submitted nine Savings and Credit Cooperatives (Coopac) to the intervention regime upon verifying that they present negative patrimonies when incurring in the total loss of the capital stock and its reserves. Said Coopac are the following: Credicoop Arequipa, Integra Asociados, Grupo Prada […]