iciHaiti - Economy : Impact of insecurity on the functioning of the banking sector

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iciHaiti - Economy : Impact of insecurity on the functioning of the banking sector
25/03/2025 08:47:06

On Monday, March 24, 2025, the Board of the Bank of the Republic of Haiti (BRH), accompanied by the directors of the Supervision, Funding, and Technology departments, met with the Professional Association of Banks (APB) to assess the impact of the current security situation on the banking sector and the provision of financial services to customers, particularly in the metropolitan area.

This climate of insecurity has led to the closure of several bank branches, with consequences for the quality of financial services, as well as recurring difficulties in cash supply. The impact of the socio-security environment, which increases risks to the banks' portfolios and the payment system, was also analyzed.

To better manage this situation, the BRH and the APB have decided to work on a joint contingency plan, including short-term measures and sustainable solutions aimed at ensuring business continuity and strengthening the resilience of the banking sector.

The BRH is taking this opportunity to encourage economic stakeholders to use payment methods other than cash to settle transactions, including transfers, checks, credit cards, and others.

IH/ iciHaiti