Canary Islands Government and Caixabank Cooperation Agreement

Overview

The Canary Islands government formalized a cooperation agreement with Caixabank to manage its treasury accounts. Signed on August 20, 2025, the deal establishes the rules for operating the islands' treasury accounts used for paying obligations and managing funds from various public bodies. This partnership aims to:

• Streamline payments
• Improve financial control
• Enhance transparency

Key Provisions

• The agreement designates Caixabank as the official bank for handling these accounts.
• Caixabank will provide:
  • Secure online banking systems
  • Automated transaction processing
  • Clear protocols for transfers and account management
• These funds are public and protected from seizure, maintaining the integrity of public money.

Operational Framework

• The arrangement involves regular communication, monitoring, and potential modifications through a joint commission.
• The initial period is two years, with the possibility of renewal.

Benefits for Residents

• More efficient system for government transactions
• Potentially faster payments
• Better financial oversight

Broader Goals

• Modernize the financial framework of the islands
• Ensure accountability in managing public funds

This agreement benefits taxpayers and public service users by improving financial management and transparency.