Gambling businessmen won’t be able to own banks in Argentina

These measures shall take effect for requests for authorization of new financial institutions, for negotiations on share packages and for requests for designation or renewal of authorities of financial institutions that may be submitted to the BCRA in the future.

The decision of the BCRA was established following international recommendations regarding the prevention of money laundering, in view of the greater risk involved in linking gambling with the financial system in relation to other economic activities.

The rules are valid from now on, that is to say that it does not alter the positions that today, for example, Cristóbal López in the Finansur bank and the Ick family in the Santiago del Estero Bank.

Source: GMB / Clarín