Non-banking Financial Institutions
The Central Bank also regulates a number of other financial institutions, most notably:
- Grupo Nueva Banca, S.A. (New Bank Group) - the principal shareholder of the following entities: Banco Internacional de Comercio, S.A., Financiera Nacional, S.A., Compañía Fiduciaria, S.A., InCreFin, S.A. It also holds 50.0% in the joint venture Financiera Iberoamericana, S.A. and held 40% percent in Caribbean Finance Investments Ltd. (CariFin) (the latter was subsequently dissolved).
- Casas de Cambio, S.A. (CADECA), formed in 1994, this company operates money-exchange kiosks
Read more about this topic: Banking In Cuba
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