The Cuban government announced on Monday that local banks are equipped to function without electrical power, a move aligned with their strategy to tackle the severe fuel shortages plaguing the nation.
In a recent episode of the "Mesa Redonda" program, Juana Lilia Delgado Portal, the president of Cuba's Central Bank, stated that the banking system remains operational across the country. However, branches lacking generators or alternative energy sources have adjusted their operating hours.
Delgado Portal highlighted that investments made over several years have enhanced the energy self-sufficiency of specific bank offices. These investments include the implementation of photovoltaic systems, enabling essential operations to continue even during blackouts.
Despite these challenges, key services such as pension and salary payments, cash withdrawals, and essential transactions are still being provided. Delgado Portal emphasized the need to reorganize in-person services to align with energy limitations.
The minister encouraged both individuals and businesses to prioritize digital channels for payments, transfers, inquiries, and other procedures. This shift aims to minimize trips to bank branches and reduce fuel consumption related to transportation.
"We must consider the most vulnerable. This approach simplifies our lives," she remarked, stressing the importance of digital platforms in an environment fraught with mobility issues and energy constraints.
Delgado Portal also confirmed that currency exchange services through CADECA and bank branches, as well as international payments related to exports and prioritized activities, will persist, although some scheduling adjustments may be necessary.
The Central Bank president assured the public that essential banking operations for the economy and society will remain a priority. She expressed hope that citizens will understand the current situation and the required service alterations.
Finally, she urged clients to stay informed via the banks' and the Central Bank of Cuba's social media platforms, where updates on scheduling changes, operational adjustments, and avenues for addressing complaints or grievances will be communicated.
Understanding Cuban Banking Operations Amid Energy Challenges
How are Cuban banks managing to operate without electricity?
Cuban banks have invested in energy self-sufficiency measures, such as installing photovoltaic systems, to maintain essential operations during power outages.
What services are prioritized by Cuban banks during power outages?
During power outages, Cuban banks prioritize essential services, including pension and salary payments, cash withdrawals, and other critical transactions.
Why is there a push towards digital banking in Cuba?
The push towards digital banking in Cuba is to reduce the need for physical travel to bank branches, thereby conserving fuel and adapting to energy restrictions.