Metamorphosis of a Banking System: The Cuban Experience

Thesis submitted in partial fulfillment of the requirements for graduation from the Stonier Graduate School of Banking conducted by the American Bankers Association at Rutgers University Brunswick, New Jersey.

A thesis submitted in partial fulfillment of the requirements for graduation from the Stonier Graduate School of Banking conducted by the American.

Ernesto Garcia lend me his graduation theses from School of Banking at Rutgers University, and I was sure at that time that his thesis has to be published in a book format. Ernesto passion about the banking system, not only in Cuba, but also in the United States of America, motivated him to continue his studies until he graduated with this astonished research. Inside this pages Ernesto pointed out how the Cuban Banking System, one of the tops system in Latin America before 1959, suffered a complete metamorphosis and converted into a centralized system controlled by the Cuban government.

The Cuban Banking System was established in 1950 for Felipe Pazos, great economist and who was colleague of my father at the University of Havana. I had the privilege to meet Mr. Pazos when he visited the Bank of Venezuela in 1981. After meeting him, I confirmed that his studies and knowledge about the banking system made possible to him to accomplish this task in a way that the public sector can understand.

Eloy Cepero, Editor