On June 5, 2025, the Board of Directors of Nicaragua’s National Microfinance Commission (CONAMI) published Resolution No. CD-CONAMI-011-09FEB27-2025 in La Gaceta, the Official Gazette. This resolution contains the Regulation on Contributions from Microfinance Institutions (MFIs) to cover CONAMI’s annual operating and investment budget.
The purpose of this regulation is to strengthen CONAMI’s institutional capacities by establishing rules for financial contributions that registered Microfinance Institutions (MFIs) are required to make.
According to the regulation, all MFIs that are registered with, regulated, supervised, monitored, and overseen by CONAMI must make an annual contribution equivalent to three per thousand (0.003) of their total assets, based on their financial statements from the previous fiscal year. For new institutions, the contribution will be calculated based on the assets reported in their initial statement of financial position at the start of operations.
The contribution must be paid in four equal quarterly installments, with due dates on January 20, April 5, July 5, and October 5. Payments must be made in córdobas via bank transfer to the account specified by CONAMI, and reported within five calendar days after payment.
Failure to comply with the payment schedule may result in penalties and fines, as well as the application of a late interest rate equivalent to the short-term active rate published by the Central Bank of Nicaragua at the close of each calendar year.
If an MFI fails to pay on time, it will be subject to fines and interest charges, based on the short-term active rate set by the Central Bank of Nicaragua. In more serious cases, if the delay exceeds 180 days, CONAMI may cancel the institution’s registration, which would revoke its authorization to operate in the microfinance sector.
Should an institution continue to offer financial services after being deregistered, it may face a fine ranging from 10,000 to 100,000 penalty units. Each penalty unit is equivalent to one U.S. dollar in local currency.
MFIs are advised to carefully review their obligations and ensure timely compliance with the payments established under this regulation in order to avoid sanctions, interest charges, and potential legal consequences that could impact the continuity of their operations.
