Canary Islands’ Treasury and Unicaja Bank Agreement (2025)

Overview

On July 29, 2025, the Canary Islands’ Treasury Department formalized a new agreement with Unicaja Bank to oversee the operation of its official treasury accounts. This deal aims to streamline payments and collections for various public entities within the autonomous community, ensuring secure and efficient financial management.

Key Details of the Agreement

• The agreement specifies that Unicaja Bank will provide the necessary banking services, including electronic systems for account management, with no added charges for these services.
• The accounts will hold public funds and be used to pay obligations ranging from health and education to cultural services.
• This arrangement is set to be valid for two years with the option for renewal.

Focus on Transparency and Security

• The deal emphasizes transparency and security, with detailed procedures for transferring funds, handling errors, and reporting movements.
• A joint oversight commission will be established to monitor compliance and address issues.

Benefits for the Public

• Ensures that public funds are managed professionally.
• Reinforces modernizing financial operations within the islands.
• Emphasizes confidentiality and adherence to data protection laws.
• For residents, this means:
  • A more reliable system for government transactions.
  • Reduced bureaucratic delays.
  • Better oversight of public money flows.
  • Critical in maintaining trust and improving public service delivery in the islands.