Executive Branch Restricts Banking Activity Due to COVID-19
29 junio 2020

The Superintendence of Banking Institutions (Sudeban, in Spanish) published a circular on June 29 suspending banking activity in the Venezuelan capital, Caracas, as well as in areas along the border. Following the opening of the economy driven by Nicolas Maduro’s administration, banks throughout the country should be open to the public this week. However, some will remain closed due to the increase in COVID-19 cases. The measure came into force on June 30 and applies through July 5, although it could be further extended should the Executive branch deem it necessary in its efforts to tackle the pandemic.

Banking institutions are to be closed in several municipalities in the states of Miranda, Aragua, Carabobo and Zulia, among others. Because of this, Sudeban has urged banks to guarantee and encourage the use of electronic means of payment as part of efforts to curb the spread of COVID-19. Meanwhile, banks will be allowed to serve the public every day from 9 am to 1 pm in areas where there are few cases.