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29 March 2016
The Ministry of Finance and Public Credit recently issued general provisions which specify the types of loan that insurance and surety companies may issue to third parties, based on Articles 126 and 152 of the Insurance and Surety Companies Law.
The regulator specifically allows insurance and surety companies to issue the following types of loan:
In accordance with the National Development Plan, the aim of the Ministry of Finance in defining the types of credit and loan that insurance and surety companies may issue is to democratise access to finance, avoid imbalances, promote national economic growth and create another option for debtors to secure credit at competitive rates.
For further information on this topic please contact Carlos Ramos Miranda at Hogan Lovells BSTL by telephone (+52 55 5091 0000) or email (firstname.lastname@example.org). The Hogan Lovells website can be accessed at www.hoganlovells.com.
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