Havana: Cuba has implemented new rules for foreign-currency bank accounts, permitting private businesses and other non-state economic actors to deposit foreign-currency cash and conduct payments abroad for imports, financing, and other authorized activities. The Central Bank of Cuba stated in Resolution 102/2026 that individuals and legal entities could now open foreign-currency accounts in banks without needing prior authorization.

According to Anadolu Agency, this regulation supplants Resolution 125/2025, which had been in effect since December. The non-state economic actors affected by this change include cooperatives, agricultural producers, communicators, artists, and other creators operating independently of the state sector. The updated framework modifies the rules for cash deposits in foreign currencies by these actors and allows them to make payments abroad for legally sanctioned purposes such as imports and financing.

Additionally, the regulation permits transfers between foreign-currency accounts and the purchase or sale of foreign currency through authorized exchange mechanisms. Account holders are responsible for all transactions conducted through their accounts. Banks are required to implement due diligence measures as per regulations addressing money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

The new measures aim to facilitate foreign-currency operations for non-state economic actors and provide them with greater flexibility in accessing the banking system. Since late 2025, the government has introduced measures enabling non-state businesses to access foreign currency via the banking system. In June, private actors were allowed to deposit US dollars in cash without mandatory conversion into Cuban pesos.

These changes occur against the backdrop of a severe economic crisis in Cuba, characterized by persistent foreign-currency shortages and a widening gap between official and informal exchange rates.