Cuba Banking System Collapsed. Banks in cuba will again accept cash deposits in us dollars after a ban prohibiting the practice was surprisingly lifted on monday. The shortage of cash comes as cubans grapple with a complex monetary system in which several currencies circulate, including a virtual currency, mlc, which.
Cubans had been unable to deposit dollars in cash into their accounts at banks and other financial institutions for almost two years. The cuban government admitted failure in the implementation of banking and the official exchange rate policy, triggering a wave of criticism from citizens who demand.