US opens up banking to private Cuban businesses as it aims to boost private sector
Time:2024-05-29 09:31:18 Source:travelViews(143)
WASHINGTON (AP) — The U.S. lifted some financial restrictions against Cuba on Tuesday, in a move designed to boost private businesses on the island.
The measures will allow independent entrepreneurs to open and access U.S. bank accounts online to support their businesses. Other measures include steps to open up more internet-based services and expand private companies’ ability to use certain financial transactions.
“These regulatory amendments update and clarify authorizations in support of internet-based services to promote internet freedom in Cuba, support independent Cuban private sector entrepreneurs, and expand access to certain financial services for the Cuban people,” the Treasury Department said in a news release.
One of the key changes would allow Cuban private business owners to open bank accounts in the United States and then access them online once back in Cuba — something they couldn’t do previously. The U.S. also is again allowing something called U-turn transactions, where money is transferred from one country to another but is routed through the United States.
Previous:Alizé Cornet retires from tennis after French Open loss to Zheng Qinwen in the first round
Next:Texas’ first
You may also like
- Jessica Campbell could be candidate as an assistant in Seattle, new Kraken coach Dan Bylsma says
- China issues alert for geomagnetic storm
- China to establish national park at Qinghai Lake
- China's environment improves steadily
- Addison Rae showcases her figure in a white bikini as she poses with horses on a beach in Mexico
- Meyers, Peña homer as Astros beat Brewers 5
- Middle East eyes tourists from China
- China issues alert for geomagnetic storm
- Disaster declaration issued for April snowstorm that caused millions in damage in Maine