The banking regulation establishes the operation of different types of entities within the financial system, classified by:

Foreign banks not located in the country can establish representative offices in the national territory in accordance with regulations.

The establishment of financial intermediation entities is subject to the approval of the Monetary Board, with prior opinion of the Banks Superintendency.

Dominican regulations take into account modern international trends in prudential regulations. To promote the stability and security of the system, our legislation is governed by the principles established in the Basilea I and II Agreements, which has strict compliance regulations and closely supervised by the financial and monetary authorities.

Dominican banking laws:

  1. Reaffirm the obligation to maintain liquidity reserves in the Central Bank under the legal reserve system.

  2. Establish compliance norms to facilitate the supervision of financial entities.

  3. Have strict governance requirements.

  4. Establish a model of preventive supervision, based on a permanent monitoring system of liquidity and solvency conditions, to avoid regulatory insolvency.

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