Cuban president urges to update national banking system

Cuban President Miguel Díaz-Canel on Friday urged to update the country´s national banking system by implementing a structural and organizational innovation as well as new technologies and services.

According to the National Television News, the Cuban leader called for assessing present-day trends including cryptocurrencies and other digital banking issues, and the avenues to face up the US blockade.

We need —he added— to have a better vision of how banking system is “moving” around the world, for which we must seek international collaboration based on training our personnel.

In his view, Cuba´s banking system is still operating under a primary system and even though there is an understanding of the present issue as well as a route for solution, specialists have not managed to solve it.

President Díaz-Canel urged for fostering PhDs and master’s degrees in banking system to have sufficient “critical experts” to provide management based on science and innovation.

Prime Minister Manuel Marrero Cruz, on the other hand, talked about the emergency of “getting young people to think, research and make proposals” to have an efficient banking system like the one Cuba really needs.

The Central Bank of Cuba Minister-President Marta Sabina Wilson detailed about most pressing lines of science and innovation planned and developed by the national banking and financial system as part of the macro-programs in which the National Economic and Social Development Plan is expressed.