The Association of Banks of Paraguay (Asoban) and the Association of Banks and Finance Companies of Paraguay (ABAFI) clarified the note sent to the Central Bank of Paraguay (BCP), in relation to the request to charge commissions for bank transfers via SIPAP.
Regarding the note, the banking unions indicated that it is an internal communication, which was leaked in a context of discussion for the fixing of prices for a completely new service and that it occurs in the field of “free competition in the market”.
They explained that the proposal is related to the rate applicable to SPI – SIPAP transfers for local currency, which they consider necessary for the adoption of a new system, totally different from the one existing today. “This initiative will generate important transformational benefits for all parties,” they said.
Likewise, they indicated that these rates will serve to support the maintenance of investments in technology and security necessary to develop, implement and maintain the system that requires constant investments as it becomes a permanent service 24 hours a day, 365 days a year.
“We reiterate that the proposal presented is not a final version and that we are in a context of discussion with the Central Bank of Paraguay on these and other issues related to it, with the aim of offering and improving the experience of users of banking and financial entities”, they added.
They also expressed that banks and finance companies support free competition in the market within the regulatory framework.
