A. M. 
Courtesy
In a recent work session, the Technology, Tourism and Investment Commission discussed the receipt of new files that will be subject to analysis and discussion. Among the most important proposals is the Cooperative Banks Law, aimed at establishing a regulatory framework to facilitate the organization and financial intermediation function of these entities. This project seeks to strengthen the operations of cooperative banks, promoting their efficiency and reliability in the management of resources.
In addition, the Special Law of Savings and Credit Societies was presented, whose objective is to promote and strengthen these societies so that they become financially sound and competitive entities. The law aims to guarantee users an efficient and reliable management of their resources, thus promoting financial inclusion in the country.
Another of the files received was the Special Law of Savings and Credit Societies, aimed at reinforcing the private character and cooperative nature of rural credit unions and workers’ banks.
The purpose of this proposal is to strengthen the federation to which these entities belong, ensuring their financial soundness, competitiveness and functionality.
Likewise, the Initiative to transfer the functions of the Instituto Salvadoreño de Fomento Cooperativo to other specialized entities, in order to promote cooperativism with greater efficiency, taking into account the needs of each productive sector, was also presented.
The Commission will continue with the detailed study of these files, in order to develop a legal framework that promotes the growth and stability of the cooperative financial sector in El Salvador.
