Survey Results on Compliance with Circular 109 by Commercial Banks
Summary: This report presents the findings of a survey conducted to assess the compliance of commercial banks in Haiti with Circular 109. The survey examines the extent to which banks display information on fees and interest rates as required by the circular.
Key Findings
- 7% of surveyed branches display the minimum amount required to open an account.
- 70% of branches display fees for account closure.
- One bank shows total non-compliance with Circular 109.
- Some banks fully comply with Circular 109.
Full Description
The Banque de la République d'Haïti (BRH) conducted a survey to evaluate the compliance of commercial banks with Circular 109, which mandates the display of information on fees and interest rates. The survey covered a sample of bank branches in the Port-au-Prince metropolitan area. The results indicate varying levels of compliance among banks, with some fully adhering to the circular while others show partial or no compliance. The findings highlight areas where banks need to improve transparency and adherence to regulatory requirements.
How to cite
Bank of the Republic of Haiti (BRH), 2017, Survey Results on Compliance with Circular 109 by Commercial Banks, https://www.brh.ht/wp-content/uploads/enquete_circulaire_109.pdf