Executive Reopens Financial Institutions Within Framework of New Flexibilization Phase
17 julio 2020

After the Executive announced a third extension of the state of emergency until August, the Superintendency of Banking Institutions (SUDEBAN, in Spanish) informed that between July 13 and 17, financial institutions will be able to operate between 9 a.m. and 1 p.m. in districts with low levels of infection. This means that levels of financial activity are being adjusted to the rotational relaxation of the national lockdown. The level of openness depends on the region where the institution is located. The regulation is already in force.

There are three levels of flexibilization currently in force. The first envisages strict quarantine, for those places with high contagion levels. Financial entities will not be allowed to operate in these areas. The second level, where flexibilization is partial, permits entities to operate at reduced capacity. The third level envisages general flexibilization, allowing banking agencies to pursue regular activities during the afore-mentioned hours.

Banco de Venezuela is continuing to promote new payment methods in the country, launching its “Billetera En Línea BDV” (BDV Online Wallet), for financial users to pay for purchases in gas stations or establishments affiliated to BiopagoBDV. The idea is to promote financial inclusion by integrating all the users in the system.