New opening in microfinance in Cuba?

Abstract

In November 2011 the Cuban government opened the banking system to the private sector. Three state banks, the Metropolitan Bank, the Credit and Commerce Bank (BANDEC) and the Popular Savings Bank (BPA) have been in charge of responding to the new loans, which operate on a national scale and under strict regulations of the superintendency . This has been an opening to microfinance that has been programmed from the banking logic.