Brazil’s Central Bank has published Joint Resolution No. 8 of 12/21/2023, which deals with financial education measures to be adopted by authorized institutions.
As of July 2024, financial institutions and other institutions that are authorized to operate by the Central Bank will need to have a financial education policy based on ethics, responsibility, transparency and diligence.
The measures are for physical persons, including individual businesspersons, and aim to contribute to:
I – organization and planning of personal and family budgets;
II – establishment of savings and financial resilience;
III – prevention of default in operations and of over-indebtedness.
A Director must be appointed to be responsible for the Resolution.
For further information, the Payment team is at your disposal