CONAMI cancels the registration of the microfinance institution Silva Lira due to voluntary dissolution

The National Microfinance Commission (CONAMI) ordered the definitive cancellation of the registration of SILVA LIRA INVERSIONES, SOCIEDAD ANÓNIMA (SILVA LIRA, S.A.) in the National Registry of Microfinance Institutions (MFI), which entails the withdrawal of its authorization to operate in the microfinance market. The decision is contained in Resolution CD-CONAMI-069-07AGO27-2026, approved in ordinary session No. 08-2026 on August 27, 2026, published in La Gaceta, Official Gazette No. 169, on Thursday, September 10, 2026, page 9126.

Voluntary dissolution due to losses and market saturation

The company, constituted in the city of Chinandega through public deed number thirty-two (32) on May 26, 2022, before the notary María José Lira Rivera, was registered as an MFI by Resolution CD-CONAMI-038-11MAY23-2024, published in La Gaceta No. 111 on June 20, 2024, and registered in the registry of Obligated Entities of the Financial Analysis Unit (UAF) with the code UAF-RSO-B-I-924-2024.

In a letter received on October 31, 2025, the company’s legal representative notified CONAMI of its decision to voluntarily close and dissolve the company, alleging:

• an accumulation of very high financial losses, despite efforts to comply with applicable regulations;
• the saturation of the credit market in the department of Chinandega.

The decision was ratified by the MFI’s highest governing body at the Extraordinary General Shareholders’ Meeting (minutes number ten, dated October 28, 2025), which unanimously agreed to prematurely dissolve the company and name it, for liquidation purposes, “SILVA LIRA INVERSIONES, SOCIEDAD ANÓNIMA EN LIQUIDACIÓN”, with a maximum period of 120 business days for the process.

Cessation of operations and MFI obligations

According to the resolution, as of October 31, 2025, the company ceased making credit placements, limiting itself to portfolio recovery, and set December 31, 2025, as the final day for collection activities and the closing of financial statements. On January 30, 2026, it submitted the proof of business closure and municipal solvency issued by the Mayor’s Office of Chinandega on January 28, 2026.

The resolution imposes the following obligations on SILVA LIRA, S.A.:

• submit, within thirty (30) calendar days from notification, the deed of early dissolution and constitution as a merchant;
• submit a notarized photocopy of the registration of the dissolution deed in the competent Public Registry of Real Estate and Mercantile Property, three (03) days after the registration has been completed;
• maintain a customer complaint handling system and the documentation of each complaint for a minimum period of five (5) years, in accordance with Resolution CD-CONAMI-009-04MAR-2021;
• address inquiries regarding the prevention of money laundering and terrorist financing made by CONAMI and the UAF until the company is dissolved.

Legal Basis and Signature of the Board of Directors

The cancellation is based on Article 12, numerals 3 and 15, of Law No. 769, “Microfinance Promotion and Regulation Law”, consolidated text in Law No. 1175, which empowers the Board of Directors to order the definitive cancellation of the registration of any MFI. The resolution was certified by Álvaro José Contreras, Secretary of the Board of Directors, and signed by Jim Madriz López (President), Freddy José Cruz Cortez, Alejandra Leonor Corea Bradford, Flavio José Chiong Aráuz, and Denis Reyna Estrada.

The registration of the cancellation in the National Registry Book of MFIs was ordered in the third point of the resolution, with notification to the General Directorate of Revenues (DGI), the Ministry of Finance and Public Credit, the Attorney General’s Office, and the UAF.

Impact on the Sector

The exit of SILVA LIRA, S.A. from the microfinance market of Chinandega is the result of a voluntary liquidation process initiated by the company itself due to the accumulation of losses and local credit saturation. For its clients, the cancellation implies that the recovery portfolio must be managed according to the closing schedule, and that complaints will continue to be handled for the next five years. For the sector, CONAMI’s decision reinforces prudential control over MFIs and the purging of the national registry, within a context of narrowing of the credit market in the region.

Source: La Gaceta, Official Gazette No. 169, September 10, 2026, p. 9126 (official reference: Resolution CD-CONAMI-069-07AGO27-2026, Reg. 2026-866).