Why are these "Chicas" Smiling?

We take many things for granted in Canada (and the United States).

One of those things is a bank account. For example, I believe my nephew and nieces all got their first bank account before the age of 10. It may even have been sooner.

Maryuris Ruiz, Melida (BECA.org), Esther Carballo

Sadly, that is not the case here in Nicaragua (and I'm told in other parts of Latin America). For one thing, to open an account one is required to maintain a minimum balance. This is in the neighbourhood of $50.00. Way beyond the reach of people who live day to day, let alone month to month.

As a result, a great many people reside permanently outside of the formal economy. Generally speaking, It is the formal economy that pays higher wages and offers benefits.

Of 45 active students currently studying technical careers in BECA.org 44 don't have bank accounts.  We are talking about people with an average age of 21.4 years. This is simply staggering to me.

After much finagling and back-and-forth, I'm happy to report that a Nicaraguan bank - BAC - has finally granted our request to offer bank accounts to our students.

Needless to say, I am very pleased and feel this is an important step forward for us here in Nicaragua. The Coordinator of BECA.org in Masaya -- Antonio Rodriguez -- deserves all the credit for his perserverance. Good job, Antonio.