Paper
Regulation, Development and Perspectives of the Microbanking Sector in Mexico
Proceedings from the "Inter-American Forum", 9-12 September 2002, Rio de Janeiro, Brazil
This presentation describes the development and regulation of the microbanking sector in Mexico. It covers the Microbanking Law and the role of National Savings and Financial Services Bank (BANSEFI). It emphasizes the need to order, regulate, and promote the Microbanking System, the Legislature approved Microbanking Law (LACP), and the Organic Law of BANSEFI.
The presentation states that the objective of the LACP is to provide security for the savings of the population participating in the system, and to provide them with a stable funding source. In conclusion, the author also discusses perspectives such as:
- Enforcement of the Microbanking Law implies the start of a consolidation process;
- Transformation and formalization of the micro-banking sector will contribute to the development of a deep and complete financial system. This will allow offering of financial products and services to the majority of the population.
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