Cuba Business

Cuba restricts foreign businesses from withdrawing funds from Cuban banks

Posted July 11, 2009 by publisher in Cuba Business.
--------------------------------------------------------------------------------------------------- is reporting that two banks in Cuba have stopped foreign businesses from withdrawing or transfering funds.

The banks noted are Banco Financiero Internacional and Banco Metropolitano.

One Italian businessman said “they´ve blocked us sending transfers abroad and placed a 6 month window of time for these to be processed plus they´ve introduced a law that impedes our withdrawals of cash so basically they´ve confiscated our money and nobody does anything about it”.

Other businessmen in Cuba made similar comments.

There is also information about “restrictions” on foreign travel agencies that are requiring their customers to make payments directly to Cuban hotels and travel industry companies in Cuba.

Their article is more evidence about the cash crunch in Cuba.

Member Comments

On July 13, 2009, chuckdaplumber wrote:

Looks like the U.S.A. agriculture business is about to take a major hit!!
If Raul and company have no cash to buy our food products.
Maybe Obama will figure out a way to send some free food.