New Nicaragua law may isolate local banks


Nicaragua’s national assembly passed legislation on February 9 that may force local banks to maintain accounts for people on US government sanctions lists.

The Nicaraguan business and financial services sectors have expressed concerns that the new law may see them barred from international financial transactions.

The new law does not give sanctioned individuals the right to use banking services directly, but says banks must give cause for discontinuing relations with them. These decisions must

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