Banks in Brazil Will be Allowed to Open on Saturdays

RIO DE JANEIRO, BRAZIL – The Provisional Measure of Economic Freedom enacted by the Senate last Wednesday, August 21st, preserved the original points of the provisional measure (MP) submitted by the government, such as the end of the requirement for licenses and permits for low-risk businesses, and the interdiction of “regulatory abuse”, such as the establishment of rules for market reserve or price control. The MP further allows banks to open on Saturdays.

The provisions to replace eSocial by another program in up to 120 days and the introduction of the electronic work booklet, have also been maintained.

Work on Sundays

The Senate overturned authorization to work on Sundays and holidays. This measure, which had been approved by the Chamber, was advocated by the government but sparked controversy in the Senate.

As the PM would expire next Tuesday, August 27th, in the absence of a vote, the government chose to step back and agree to the removal of the work authorization on Sundays to ensure a timely vote.

Bill

Nevertheless, the government is required to enact a law governing work authorization on those days, as well as other points that were left out of the final text.

“The voting of the MP of Economic Freedom is good, but it was not ideal,” said the secretary of Welfare and Labor of the Ministry of Economy, Rogério Marinho.

Senators protested in the plenary session about the limited time granted to analyze the measure, and that the upper chamber functions as a mere “rubber stamp”.

The rapporteur of the bill in the Senate, Soraya Thronicke, said that the Senate itself was partly to blame for having taken too long to appoint senators to form the special committee that examined the measure.

The information is from the newspaper O Estado de São Paulo.

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