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Cuban Private Sector Workers Access Internet Banking


Havana, August 26 (RHC) Private entrepreneurs or self-employed workers in Cuba are benefiting from new bank services launched on Monday, as the private sector experiences a boom, prompted by the government’s partial deregulation of economic policies in recent years.

In a first stage, self-employed workers will now be able to manage their accounts online, said Director Greicher La Nuez from Banco Popular de Ahorro (BPA), meaning no more waiting in long lines outside the bank. 

This service is now possible thanks to growing internet access, developed over the past few months.

La Nuez added the bank is also looking at ways to allow business owners to pay their employees via remote banking.

Another service on trial, she said, would allow workers from the private sector to manage their funds via check books and credit cards.

As a result of the U.S. economic blockade, imposed for over half a century, financial difficulties have pushed the Cuban government to significantly reform the economy. 
Since 2011, many reforms have been implemented, including the one that paved the way for the development of the private sector. The number of professions allowed for in private entrepreneurship increased and affected many economic sectors such as sales, transportation and housing, among others. 

Edited by Ivan Martínez
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