CONAMI cancels FACSA's registration as a microfinance institution

The National Microfinance Commission (CONAMI) ordered the definitive cancellation of the registration of Factoring Centroamericano, Sociedad Anónima, known commercially as FACSA, as a Microfinance Institution (MFI) in the National MFI Registry attached to CONAMI. The decision responds to the entity’s voluntary cessation of operations and was formalized through Resolution No. CD-CONAMI-074-12AGO27-2026, published in La Gaceta, Official Gazette, No. 167, on September 8, 2026, page 9050.

The resolution was approved in ordinary session No. 08-2026 of the Board of Directors of CONAMI, held on August 27, 2026, and certified by Álvaro José Contreras, in his capacity as Secretary of the Board of Directors.

Case Background

FACSA had been registered as a Microfinance Institution through Resolution CD-CONAMI-003-03ENE29-2026, dated January 29, 2026, based on Law No. 769, “Law for the Promotion and Regulation of Microfinance,” consolidated text in Law No. 1175, “Law of the Nicaraguan Legal Digest on Banking and Finance Matters,” published in La Gaceta No. 153, on August 20, 2024.

On May 5, 2026, FACSA notified CONAMI of its decision to request the voluntary cancellation of its registration and authorization to operate as a microfinance entity, stating that as of that date, the company had not started active operations nor did it have a placement portfolio. As support, the certification of minute number 68 of the extraordinary session of the General Shareholders’ Meeting, dated May 4, 2026, was attached. Subsequently, through a letter dated July 9, 2026, the General Manager of FACSA reiterated the request and confirmed that the company was up to date with its obligations to CONAMI.

Obligations after cancellation

The resolution establishes that the cancellation implies the loss of authorization to operate in the microfinance market and orders FACSA to comply with the following instructions:

• Submit, within thirty (30) calendar days from the receipt of the resolution, the deed of early dissolution of the entity and the constitution as a merchant.
• Submit a notarized photocopy of the registration of the dissolution deed in the competent Public Registry, three (3) days after the registration has been completed.
• Maintain a customer complaint handling system and all documentation relating to each claim and complaint of the managed portfolio for a minimum period of five (5) years, in accordance with Article 9, numeral 16 of Resolution CD-CONAMI-009-04MAR-2021, “Standard on User Protection and Care.”
• Address inquiries regarding the prevention of money laundering and terrorist financing made by CONAMI and the Financial Analysis Unit (UAF) until the company is dissolved.
• Any other information that may be required by the Executive Presidency of CONAMI.

Registration, notification, and publication

The resolution also provides for the registration of the cancellation in the National IMF Registry Book maintained by CONAMI, and the notification to the legal representative of FACSA, the General Directorate of Revenue (DGI), the Ministry of Finance and Public Credit, the Attorney General’s Office, the UAF, and any other relevant parties. The publication in La Gaceta is carried out at the company’s own expense.

The resolution was signed by Jim Madriz López (President), Freddy José Cruz Cortez, Alejandra Leonor Corea Bradford (Proprietary Members), Flavio José Chiong Aráuz and Denis Reyna Estrada (Substitute Members), and Álvaro José Contreras (Secretary).

The cancellation of FACSA’s registration reinforces CONAMI’s supervision framework over microfinance institutions in Nicaragua, ensuring that entities ceasing operations comply with an orderly dissolution and the protection of user rights during the closing process.

Source: La Gaceta, Official Gazette, No. 167, September 8, 2026, p. 9050 (official reference: Resolution No. CD-CONAMI-074-12AGO27-2026).