The Central Bank of Cuba and the Ministry of Economy and Planning published two resolutions this Thursday that broaden the rules of the currency system in the Cuban economy, with a key novelty for the non-state sector: private businesses are authorized to receive cash payments in foreign currency and to deposit that money directly into their bank accounts in foreign currency.
Both regulations appear in the , published this Thursday.
The , signed on September 8 by the chairwoman Juana Lilia Delgado Portal, regulates the operation of bank accounts in foreign currency.
The , issued on August 31, establishes the general framework for the management, control, and allocation of foreign currency in the national economy.
The most significant point for the private sector is in Article 13 of Resolution 102/2026, which lists the accepted sources of income in the foreign currency accounts of non-state economic actors. Among these, it specifically includes “retail marketing of goods and services, including cash,” meaning that a micro, small, and medium-sized enterprise (mipyme), cooperative, self-employed worker, artist, or agricultural producer can receive payments in dollars, euros, or other currencies accepted by the BCC and deposit that cash into their bank account.
From those accounts, non-state actors will be able to make payments abroad for imports, settle purchases in local currency or in Cuban pesos at the current exchange rate, withdraw cash in foreign currency according to bank availability, transfer funds to other accounts, and sell foreign currency in the exchange market.
The BCC regulation also states that the opening of accounts in foreign currency "is done without prior authorization from the Central Bank of Cuba," and that account holders "are responsible for the transactions recorded in these accounts." Banks, for their part, must apply due diligence in terms of money laundering prevention and counter-terrorism financing.
Regarding the distribution of income, Resolution 103/2026 from the Ministry of Economy and Planning establishes that economic actors without an approved retention coefficient retain 80% of their income in foreign currency, while the remaining 20% is credited in national currency at the current exchange rate.
The modalities of foreign investment and those receiving external funding, donations, or international cooperation funds retain 100% of those revenues.
Both resolutions revoke previous regulations: Resolution 103/2026 replaces Resolution 140 from December 2025 issued by the Ministry of Economy and Planning, and Resolution 102/2026 replaces Resolution 125 from the BCC, from the same date.
The text of the BCC regulation explains that the change responds to the need to "modify the operations of cash deposits in foreign currencies by non-state economic actors, as well as the payments made abroad for imports, financing, and other lawful concepts."
Both regulations are framed within the Decree-Law 113 "On Currency Transactions in the National Economy," in effect since December 17, 2025, and are part of the package of 176 economic and social measures that Prime Minister Manuel Marrero Cruz presented to the National Assembly last June, which included the expansion of partial dollarization, the creation of a digital currency exchange market, and the authorization of private exchange houses.
Resolution 102/2026 takes effect seven days after its publication in the Official Gazette, which places its effective application around September 17.
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