Decree creates self-managed bank system
A legislative decree is published creating the system of self-managed banks, defined as those where workers own more than 50% of the shares. Banco de Crédito is qualified as a self-managed entity by this decree signed by President Alan García Pérez.
On March 25, the legislative decree that creates the system of self-managed banks in the country is published, qualifying as such those in which its workers "are direct owners of more than 50% of the shares representing the capital stock". President Alan García Pérez signs the legislative decree that qualifies Banco de Crédito as a self-managed entity. This measure is part of the "war economy" program announced by the president on March 8, after a meeting with the economic group made up of ministers, officials and advisors. The decree is part of a set of economic measures combining orthodoxy and heterodoxy, approved by the Council of Ministers.