Sunday, August 19, 2007

Venezuela Confirms August 20 Public Holiday For Banks And Financial Institutions

Sources: El Carabobeño and Venezuela public holidays. The Government of Venezuela has confirmed that, as we had correctly predicted, on Monday, August 20, 2007, banks, insurance brokers and financial institutions, will be closed to observe the Día de la Asunción de María public holiday (whose feast day is August 15).

Analysis: Generally, the policy of the Consejo Bancario Nacional is that when a religious public holiday (that does no have a national/patriotic character) falls on a weekday, then it is moved to the next Monday. But the Consejo Bancario Nacional does reserve the right to change this, and has sometimes made the move the the previous Monday instead.