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NewsWPLG Local 10 – EspañolJuly 30, 2026Miami-Dade

Cuba Announces Creation of First Private Bank

Cuban Prime Minister Manuel Marrero has announced the establishment of the country's first private bank. The new institution will operate under the oversight of the Central Bank of Cuba.

CubaBankingEconomyGovernment Policy
Read the full story at WPLG Local 10 – Español

Why It Matters

This policy shift introduces a private banking entity into a state-controlled financial system, potentially altering how financial services are managed and regulated within Cuba.

Key Facts

  • Prime Minister Manuel Marrero announced the creation of Cuba's first private bank.
  • The new private bank will operate under the authority of the Central Bank of Cuba.
  • The Central Bank of Cuba is a government-managed entity.
  • The president of the Central Bank of Cuba serves on the government's Council of Ministers.

Who's Mentioned

personMarco Rubio“US Secretary of State involved in humanitarian aid and diplomatic statements.”personLuis Manuel Otero Alcántara“Artist and opposition leader recently released from prison.”organizationCatholic Relief Services Caritas Cuba“Organization distributing US humanitarian aid in Cuba.”organizationBanco Central de Cuba“The government-run central bank that will oversee the new private bank.”personRaulito (Raúl Castro's grandson)“Individual reportedly offering to negotiate with the US government.”organizationGAESA“Cuban military-controlled economic conglomerate targeted by US sanctions.”personManuel Marrero“Prime Minister of Cuba who announced the creation of a private bank.”personAndy Gomez“Analyst for Local 10 reporting on the update.”locationCuba“The country where the new banking policy is being implemented.”