The Central Bank of Cuba and the Ministry of Economy and Planning published two resolutions this Thursday that expand the rules of the currency system in the Cuban economy, with a key development for the private sector: non-state businesses are now authorized to receive cash payments in foreign currency and to deposit that money directly into their foreign currency bank accounts.
Both regulations are included in the , published this Thursday.
The , signed on September 8 by the president minister 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 for the foreign currency accounts of non-state economic actors. Among them is explicitly mentioned "retail commercialization of goods and services, including cash," which means that a micro, small, and medium 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 locally in foreign 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 foreign currency accounts "is carried out without prior authorization from the Central Bank of Cuba," and that the account holders "are responsible for the operations recorded in these accounts." Banks, for their part, must apply due diligence in matters related to the prevention of money laundering and the financing of terrorism.
As for 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.
Those foreign investment modalities and individuals receiving external financing, donations, or international cooperation funds retain 100% of those earnings.
Both resolutions repeal previous regulations: Resolution 103/2026 replaces Resolution 140 from December 2025 of the Ministry of Economy and Planning, and Resolution 102/2026 substitutes Resolution 125 from the same month of the BCC.
The text from the central bank's regulation explains that the change is due to the need to "modify the procedures for cash deposits in foreign currency by non-state economic agents, as well as the payments made abroad for imports, financing, and other lawful purposes."
Both regulations are framed within the Decree-Law 113 “On currency transactions in the national economy,” effective since December 17, 2025, and are part of the package of 176 economic and social measures presented by Prime Minister Manuel Marrero Cruz to the National Assembly in June 2026, 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 will come into effect seven days after its publication in the Official Gazette, which places its effective application around September 17.
Related videos:
Filed under: