Consortium Legal

The fintech industry has revolutionised the traditional financial industry as we used to know it, at a faster pace than many could imagine.

Ever since the Republic of Nicaragua became a member of the Financial Action Task Force of Latin America (GAFILAT), Nicaragua has experienced a gradual, yet impactful, overhaul in its provisions regarding prevention, detection and criminalisation of activities involving money laundering and financing of terrorism.

The Salvadoran Law on Secured Transactions (SLST) has been in force since April 2014 by Decree No 488, which is based on the Organisation of American State´s (OAS) Model Inter-American Law on Secured Transactions. Under Article 88, the SLST clarified that the new national central registry would become operational no later than six months after this law came into force (that is, October 15 2014).The creation of the SLST had an overarching theme: to improve access to credit for micro, small and medium-sized enterprises (MSMEs), particularly those involving women-owned businesses and other marginalised groups.