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Finance
Banks are everywhere, including inside shopping malls (El Diario de Hoy)
Finance
STOCK MARKET
Since 1992, El Salvador has had a stock market
where Salvadoran companies operate. After a
long struggle, one of the achievements to develop
the market of the stock exchange system was the
approval of fiscal incentives. Currently, there is a
new decree (780 in the legislation) which exonerates
Income Tax Payments on profits, dividends, prizes,
interests, earnings, capital gains or any other benefit
generated from the purchase or sale of stocks and
other securities registered and approved by the
stock market and the Superintendence of Securities;
provided the negotiations have been done legally
and authorized by the stock market.
APPEARANCE OF MICRO-BANKS
There are many entities that are beginning
to concentrate in SMES and grant credits for
consumption, better known as consumable credits.
Those that have developed in this area have reached
a growth superior to those of the market.
CURRENCY
Since 2001, El Salvador has used the US Dollar.
The use of the Dollar is a great advantage given the
liquidity and convertibility of this currency, though the
country looses a macroeconomic tool to maneuver in
times of crisis, since it does not control the currency,
it cannot devaluate it and improve competiveness
of the industry.
MAIN FINANCIAL COMPANIES
AND INSTITUTIONS
BANCO PROMERICA
Eduardo Quevedo
Executive President
Edificio Promerica, La Gran Vía
Entre Carretera Panamericana y
Calle Chiltiupan, Antiguo Cuscatlán,
La Libertad
Tel: (+503) 2213 5000
Fax: (+503) 2513 5105
equevedo@promerica..com.sv
www.promerica.com.sv