Company Information

Get to know Banco Fassil

Founded in 1996 as a Private Financial Fund, Banco Fassil S.A. became a full-service "Multiple Bank" in 2014, headquartered in Santa Cruz de la Sierra, Bolivia. The bank experienced rapid growth, becoming one of Bolivia's largest financial institutions, focusing on services for individuals, small and medium-sized enterprises (SMEs), and corporations. However, in April 2023, the bank faced a severe liquidity crisis, leading to its intervention and subsequent closure by Bolivia's financial regulatory body, ASFI, amid allegations of mismanagement and illicit financial activities. Its viable assets and liabilities were transferred to other banks to protect depositors.

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Financial BankingPRIMARY
Financial Other Service

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Banco Fassil

Bolivia

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

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BVI FSC

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.