Central Reserve Bank of El Salvador: Best Central Reserve Bank Central America 2024

The Central Reserve Bank of El Salvador has introduced important innovations, enhancing financial inclusion and modernising the nation’s infrastructure. As the first public institution in El Salvador certified to issue digital electronic signatures, the bank offers this service at the region’s lowest price, making it more accessible to the population. In 2023, the bank successfully carried out the country’s first fully digital Population and Housing Census in 17 years, a feat praised by international organisations. The introduction of Transfer365 has revolutionised cross-border transactions, reducing costs for Salvadorans and businesses, and saving over $1.8m in fees. The bank also implemented a groundbreaking system that clears interbank cheques in under four hours, the fastest in the Americas. In financial education, it launched an interactive mobile programme, teaching over 10,000 children across El Salvador the basics of banking and digital payments. The bank’s commitment to social responsibility includes scholarships for students and regulatory changes to ease financial procedures for retirees. The institution has been recognised for its high standards, maintaining certification for internal auditing and receiving the Diamond Award for Excellence and Quality. The Central Reserve Bank has also earned a Great Place to Work certification, with 92 percent of employees rating it highly. These achievements reflect its ongoing efforts to drive progress in El Salvador’s financial system. The CFI.co Judging Panel congratulates the Central Reserve Bank of El Salvador on winning the 2024 award for Best Central Reserve Bank (Central America).