Cuba News
Money laundering money to buy products and pay for services
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ETECSA receives permission from the Central Bank to convert the balance of money into electronic money (Photo: Cubano Periodical)
The Cuba Telecommunications Company (ETECSA) has obtained a license from the Central Bank (BCC) to convert the mobile balance into electronic money, in such a way that its customers can pay for it through some services.
This business strategy, unites with the current telephone charging system, can be converted into another form of direct mail from various countries in Cuba, including the United States.
Follow the Independent site El Toque, the BCC granted a license to ETECSA to operate as an entity to finance and offer services to Cobro and to pay for a mobile currency “as part of the Transfermóvil platform operator, associated with the contracted cell line, which operates in Cuban pounds” .
The coins of the money in the currency of the currency can be derived from the telephone balance and the magnetic cards associated with bank accounts.
The resolution of the Central Bank clarifies that the virtual money of the monetary currency can be used for business transactions in those that have been transferred to the Transfermovil platform, for transfers between mobile monitors and to send bank accounts.
In this form, the principal balance of a mobile cargo transfer may be transferred first to the mobile phone and the loan may have a magnetic card to be effectively removed from the automatic doors.
The note states that between the requirements required by the Central Bank and ETECSA for the operation of the monovalent currency is the provision of the infrastructure required. In addition, a monetary balance of 5,000 pesos is established for the currency and a limit on transactions of 1,500 Cuban pesos.
Between July and September 2020, the United States Department of State sanctioned gravity on the multinational financial and security corporation American International Services (AIS) and the Western Union (WU) Company for managing remittances and divisions for Cuban military companies.
This means a serious reduction in the gross MLC contribution to the FINCIMEX state-of-the-art company, which is divided into divisions and includes the CUP or MLC solo works for the purchase of articles in established establishments.
All this represents an aggravation of the Cuban inflationary crisis which, following the recommendations of the Paris Club, contains powdered algae and devalues the pound to a value of around 40 or 50 CUP per dollar.