The Cuban Banking Study Group, Inc. (CBSG) is dedicated to the study of the Cuban banking and financial system and to the promotion of an orderly development of the Cuban banking industry in a market-driven economy, where Cuban-owned institutions play a prominent role.
The Cuban Banking Study Group Inc. (CBSG) is a non-profit association established in Florida in December 1992. We are comprised primarily of professional bankers of Cuban origin with diverse backgrounds and experience.
CBSG believes that a solvent and economically rational banking system is a fundamental condition in the development of an effective market-driven economy. The classic intermediation role of financial institutions is essential to the flow of funds into economically viable enterprises, appropriately and reasonably priced for risk and within a proper regulatory and supervisory framework.
Cuba had a robust financial system in the decade of the 1950s where Cuban-owned banks controlled most assets and deposits and were the catalyst for the economic and industrial growth of the country. CBSG believes that a Cuban-owned banking industry, ready to serve the needs of local communities and small businesses, complemented by government-owned institutions, multinational agencies and foreign banks is critical to Cuba’s economic development. CBSG strive to promote and engage in a consultative approach to ensure this transition is achieved.
The Cuban Banking Study Group Inc. is not affiliated or sponsored by any political action group or party.
Our work over the years resulted in the publication in 1995 of a study called “CUBA. PAST PRESENT AND FUTURE OF ITS BANKING AND FINANCIAL SYSTEM.”
The study is divided into two parts. In the first part we cover the history of the banking system in Cuba from 1832 to the present. In part two we make some recommendations for an efficient and modern banking industry and present an agreement negotiated with former bank owners to compensate them for properties that were nationalized in 1960, thereby avoiding protracted litigation and delays in the future. We also discuss the creation of a development bank and the creation of a robust micro-lending program designed to promote new small business enterprises.
Our conclusion in that study is that a solvent and economically rational banking system is a condition sine-qua-non in an effective market economy. The classic intermediation role of financial institutions is essential to make sure that funds flow freely into economically viable enterprises, appropriately and reasonably priced for risk and within a proper regulatory framework and supervisory regime.