The National Microfinance Commission (CONAMI for its acronym in Spanish), through Resolution No. CD-CONAMI-002-02ENE28-2020, published in the State Official Journal No. 32 of February 18, 2020, updated the patrimony or minimum capital of the Microfinance Institutions.
The new capital or minimum patrimony that both commercial companies and non-profit entities must have will be Seven Million Seven Hundred Thousand Cordobas (C$ 7,700,000.00).
Likewise, Microfinance Institutions that currently have a capital or patrimony lower than the new minimum, will have a period of twelve months to update it, in accordance with article three of the new standard.
The new standard repeals the previous Resolution No. CD-CONAMI-011-01DIC20-2016, published in the State Official Journal No. 10 of January 16, 2017. Such standard provided the minimum in Six Million Three Hundred Thousand Cordobas (C $ 6,300,000.00), giving an update of one million four hundred thousand Cordobas.
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