The governor of the Central Bank, Héctor Valdez Albizu, received the Visit of the Associate Director for Banking and Financial Services of the United States Treasury Office of Technical Assistance (OTA), Audrey Linthorston his first official visit to the Dominican Republic.
Linthorst was accompanied by the expert consultant in collateralized operations, María del Pilar Bonilla Juárez, an expert in issues such as security interests and reciprocal guarantees.
Valdez Albizu valued the significant support that the United States Treasury OTA has provided the Central Bank and the country, in terms of digital banking and banking sub-agents, as well as for the drafting of the Bill on Secured Transactions and its Implementing Regulations approved by the President of the Republic Luis Abinader through decree no. 18-23, which in turn puts into operation the Electronic Registry that makes the aforementioned regulations operational.
It indicated that, to date, the aforementioned Registry of Secured Transactions is operating, receiving registrations from an important variety of actors linked to the granting of guarantees, a process that was facilitated by the technological implementations that have been developed within the framework of technical assistance. from the OTA.
Likewise, the governor expressed that this assistance will continue to be of high value and benefit for the development of the National Strategy for Financial Inclusion 2022-2030particularly with the training of the entities involved in the Secured Transactions System and in the elaboration of the draft laws contemplated in the aforementioned strategy, as the particular case of the Factoring Bill (that is, purchase and sale of commercial invoices ) and the Real Estate and Financial Leasing Bill, regulations that, as a whole, seek to facilitate stable and low-cost financing for MSMEs, as a basis for sustainable financial inclusion.
standards development
Valdez Albizu took the opportunity to indicate that It is the interest of the Central Bank to develop regulations related to Open Finance (Open Finance), climate risk and labeled bonds (Green Bonds, Social Impact Bonds and Sustainable Bonds)as important issues for the development of our financial ecosystem, including Fintech or companies that apply technology in the design and provision of financial services.
He reported on the successful completion of the initial stage of the first national survey of Micro, Small and Medium Enterprises (MSMEs), which is being carried out in compliance with the memorandum of understanding signed between the Central Bank and the Ministry of Industry, Commerce and MSMEs. , to create the first national directory of these companies.
He also announced that Starting in May of this year, a survey will be carried out on a representative sample of this segment of companies. with the aim of capturing relevant information that allows estimating its impact on the economy and designing public policies, as well as strategies for the development, promotion and competitiveness of this sector.
Key boost.
United States Treasury official praised the measures taken by the Central Bank and highlighted his work and leadership in promoting and achieving important changes in various impact issues for all areas of the Dominican economy, particularly in relation to financial inclusion and the promotion of access to financing for MSMEs.
Linthorst expressed that the Central Bank has been a key promoter of the technical assistance provided by the OTA, achieving tangible effects in the market, predicting the success of future policies, for which the OTA lends itself to continue providing its technical assistance.
