On April 12th, 2007, Banco Central de Venezuela met with the Superintendency of Banks and Other Financial Institutions (Sudeban), as part of a strategy to stimulate and to spread information about the currency redenomination process. This event was presided over by the highest authorities of both entities, Gaston Parra Luzardo and Trino A. Díaz accompanied by their boards of directors.

The meeting began with an exposition pointing out the purposes and different aspects of currency redenomination. The main objective was to share the views of both institutions in order to facilitate and minimize the impact of redenomination on the banking system at an operational level.

Sudeban’s superintendent, Trino A. Díaz, congratulated BCV for the great work and effort dedicated to the currency redenomination process undertaken in the country. Likewise, Díaz considered that BCV, through its informative and educational campaign, will allow people and institutions to be ready for the process and to easily understand and assume it.

It is also expected that next week BCV’s representatives will go to Sudeban to continue with this process of inter institutional cooperation. These meetings are part of the informative strategy that BCV is carrying out with different organizations and sectors, such as Cadivi, The Ministry of Popular Power for Participation and Social Development and The Ministry of Popular Power for Communications and Information. Similarly, meetings are to be held with the Ministries of Education and Defense, Seniat, Pdvsa, among others.