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AmericasMarch 30 2022

Central Bank of Ecuador promotes financial inclusion

Guillermo Avellán, general manager of Ecuador’s central bank, has been in post since June 2021, implementing a host of changes that the country’s government has been passing to modernise and grow the economy. He spoke to The Banker about deepening financial inclusion and implementing reforms to maintain a solid financial system.
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Central Bank of Ecuador promotes financial inclusion

Q: What is the status of Ecuador’s financial system?

A: The financial system is very solid. We have 24 banks, four of which are large, and many savings and loans institutions [478 in January 2022]. Banks are supervised by the Banking Superintendency, while savings and loans are supervised by the Superintendency of Popular and Solidarity Economy.

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