After this newspaper revealed that Congress introduced in the Public Sector Debt Law for Fiscal Year 2026, changes in the election of the board of directors of the Municipal Savings and Credit Banks (CMAC), which was supported by the Executive with the publication of the standard, the president of the Peruvian Federation of CMAC, Jorge Solis, pointed out that there is a political interest behind this decision.
“We do not want the savings banks to end up being Petroperú due to political management,” he said at a press conference. As is known, within the changes it is established that the representative on the board of small merchants and producers of the territorial area where the entity operates must be chosen by the vice minister of Mype and Industry.
For Solis, this is a reflection of the interference of the President of the Republic who, during his time as vice president of the Congressional Economic Commission, tried to approve changes in the election of the directors of these institutions.
“Mr. Jerí, through his vice-ministry, can put whoever he wants. This puts potential strategic partners in danger,” said the Fepcmac representative, who also assured that the operating system of the entities is put at risk.
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Another questionable point in the norm is that a limit is placed on the period of permanence of the president of the board of directors of the savings banks. This is how the rule now states that the position will be held for one year and re-election will only be for two consecutive annual periods. This had even been questioned by the Superintendency of Banking, Insurance and AFP (SBS).
For Jorge Solis, this decision attacks the autonomy that these institutions have. In addition, he recalled that thanks to the independence they have, they can continue with policies that have allowed these entities to register blue results by October.
For this reason, they announced that they have met with the Lima Bar Association to present a claim of unconstitutionality before the Constitutional Court (TC) for this incorporation into the Public Sector Debt Law for Fiscal Year 2026.
In this regard, Rolando Reaño, legal advisor of Fepmac, recalled that, in August, when the then management of Dina Boluarte presented the draft budget law and the debt law, a change in the board of directors of the savings banks had not been considered.
In that sense, he considered that an issue of this type should have been debated more calmly within the Plenary, and not introduced on the same day that the rule was put to a vote. “Does President Jerí begin his administration by changing norms?” he asked.
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