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WorldFebruary 2 2015

US banks play it cool with Cuba

The US's decision to normalise relations with Cuba promises to create new opportunities for American banks looking to expand. But, with the US government's changes still to be finalised, the country's banks are reacting cautiously.
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US banks play it cool with Cuba

Communiqués show that the US Chamber of Commerce and powerful US agricultural interests are already thinking about the opportunities that may arise as a result of the Cuba policy changes announced by US president Barack Obama in a December 17 statement. In a move that surprised many, Mr Obama outlined plans to normalise diplomatic relations with Cuba and to ease US-Cuban trade, travel and financial restrictions.

US banks, however, are still focused on the risks of doing business with Cuba, according to some experts.

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