Costa Rica: Government Launches New Tools to Promote Financial Inclusion

The government and the central bank of Costa Rica have launched two new tools as an incentive for Costa Ricans to use new payment methods.

The two new tools — the simple record account (CES) and SINPE Mobil — aim to make financial services easier to access for more than 35 percent of adults in the country who have never used any financial product or service.

President Luis Guillermo Solis signed the decree approving these two tools on May 7, 2015. SINPE Mobil came into force the same day and CES should be operational in the second semester of 2015.

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