News »

Cuban and U.S. banks sign agreement

stonegate  bankThe Cuban International Commerce Bank (Bicsa) and the Florida-based Stonegate Bank have signed an agreement to establish a correspondent account, reported bank authorities in Havana, yesterday, July 22.

Established was an understanding on correspondence, a standard practice between banks to facilitate transactions.

Sources noted that, in this specific case, existing restrictions imposed by the U.S. blockade must be taken into consideration.

Stonegate CEO Dave Seleski, described the event as the first important financial accord to be signed since the reestablishment of diplomatic relations between Cuba and the U.S. on July 20.

The executive explained that the agreement with Bicsa will facilitate transactions for U.S. companies doing business in Cuba, given that the correspondent accounts will allow for international operations, including the transfer of funds between clients.

Stonegate, founded in 2005, has 21 branches in the state of Florida, while Bicsa was created in 1993, and currently maintains correspondent relations with 600 agencies around the world.


1 Comment

Make a comment
  1. JANICE OXFORD / Personalbanking?

    Hello my great reporter friends!

    I have a godson in Cuba. He is currently under 18 and under the care of a government home for children without families. Occasionally I study in Cuba, as my Major is Peace and Intercultural Studies with a concentration in Latin America.

    It would be extremely beneficial to have the convenience, and privilege of a personal bank account in Cuba, allowing me to deposit funds from Miami and then have access to them once in your beautiful country.

    If you are able to reply I would greatly appreciate it.

    Long reign Cuba and her principles of José Martí.

    With true affection,
    Janice Oxford


Make a comment

Your email address will not be published. The mandatory fields are marked. *