Actualidad Peru

Electronic money, broad access to financial services

Supreme Decree 079-2015-EF

On 1st April 2015, the Peruvian Ministry of Economy & Finance (MEF) enacted the Supreme Decree 079-2015-EF, amending Law 29985, which regulates the basic specifications of electronic money as an instrument for financial inclusion.

This Decree amends article 5.1 of Law 29985, which established the indispensable condition that electronic money accounts can only be opened by national or foreign natural persons. With this amendment, legal entities may also be account holders.

The fundamental aim of this decree is to make it easier for people with less access to formal financial services to trade with businesses using digital money, to help boost financial inclusion in the country.