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July 1, 2022
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Law of “Banking Secrecy” in the hands of Deputies

Law of "Banking Secrecy" in the hands of Deputies

Last Thursday, the Chamber of Senators approved bill number 7, subsection “e” of Law 6104/18, which “amends and expands Law 489/95 “Organic Law of the Central Bank of Paraguay”.

In the event that the initiative prospers in the Lower House and the Executive promulgates it, the Central Bank of Paraguay (BCP) will no longer be able to send documents to the Senate with crossed out documents.

It should be remembered that at the beginning of April, the BCP sent documents with crossed out documents to the Senate. They were related to suspicious operations of Horacio Cartes, former President of the Republic, which could be classified as cases of money laundering.

From the opposition, they allege that with the change of board of directors, there are more possibilities that it be approved in the Deputies. It should be remembered that senators from the Chartist and patriotic caucuses and some Liberals voted for the rejection, in the same way the modification won.



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