Until June 25th, 2016 Financial Institutions were not allowed to grant credits to natural persons or legal entities domiciled abroad, to be used outside the country without previous approval of the Central Bank of Honduras (CBH).
CBH in resolution No. 224-6/2016 approved the regulations to authorize credits to be used abroad according to the following rules:
- Previous authorization: All credits for amounts over US$300,000.000 must be previously approved by the CBH.
- Subsequent approval: Credits for amounts below US$300,000.00 may be granted by the Financial Institutions; however, the credits must be declared in a monthly listing to be later approved by the CBH.
- Do not require authorization: All credits beneath US$100,000.00 may be granted without authorization of the CBH.
Prior to this regulation, Financial Institutions we only allowed to grant credits to Honduran citizens for the acquisition of land, construction or improvement of housing in Honduras.