Villa Clara Mipymes Access Foreign Currency Through Bandec...

What Happened

A total of 39 micro, small, and medium-sized enterprises (Mipymes) in Villa Clara have successfully accessed foreign currency purchases through the Banco de Crédito y Comercio (Bandec).

This development is a direct result of recent transformations implemented within Cuba's exchange market.

Where and When

This initiative began in January 2026, with operations centered in Villa Clara province.

The process involves Bandec's digital platforms, allowing non-state economic actors to submit their acquisition requests.

Why It Matters

This measure formally expands access to foreign currency for the private sector in Cuba.

It signifies the ongoing implementation of the Central Bank of Cuba's (BCC) new exchange market design, aiming to integrate these entities more formally into the financial system.

What the Parties Say

Lisbet Torres Martínez, director of Bandec's Santa Clara branch, stated that the bank conducts strict identity and account verifications before each operation.

The official press highlights this as part of the exchange market reforms, though it remains a state-controlled system.

What Comes Next

Mipymes can acquire foreign currency every 30 days, with the amount capped at 50% of their average fiscal account income over the past three months.

All transactions are fully digital and bank-managed, reflecting continued centralized control over the nation's foreign currency flow.