The Central Bank of the Dominican Republic reported that it was certified in compliance with the international standard ISO 22301: 2019, for the administration process of the Gross Settlement System in Real Time (LBTR), from Aenor International.
The institution explained that said certification, the first on this process in the country, accredits that the Central Bank has a Business Continuity Management System, which operates under the best international practices in the matter, which allows it to continue operating in the most difficult and unexpected circumstances, always protecting your employees, maintaining your reputation and providing the ability to keep your critical processes and services running.
In this regard, the governor of the bank, Hector Valdez Albizu, stated that “the decision of the Central Bank to work towards the ISO 2231: 2019 accreditation demonstrates its commitment to maintain the availability of the services of the Gross Settlement System in Real Time as part of its objective of ensuring the stability and strengthening of the Finance system and the efficiency and security of the payment system ”.
The activities for the referred certification They were coordinated by the Central Bank’s Risk and Continuity Management Office and required the collaboration of different dependencies of the institution. It involved auditing the processes that affect the administration of the system LBTR by Aenor.
Governor Valdez Albizu received the certification from the hands of Ariel Espejo Combes, director of Aenor Dominicana, in the company of the bank’s deputy governor, Clarissa de la Rocha de Torres; the manager Ervin Novas Bello; the comptroller José Taveras Lay; the director of the Payment System department, Angel González; and the technical consultant for the Office of Risk and Continuity Management, Rafael Jiménez.
The system LBTR is the electronic platform managed by the Central Bank, through which financial intermediation entities, securities intermediaries, the centralized securities depository, the National Treasury and the Social Security Treasury, can make transfers of funds between themselves and with the Central Bank itself, as well as to settle payment orders, continuously, in real time, transaction by transaction, in its checking accounts at the Central Bank.
The system LBTR has been operating since April 2008, and since then has played a decisive role in the expansion and development of the Securities Payment and Settlement System of the Dominican Republic (Sipard). “Its implementation marked a before and after for payments in the country, due to the tangible and intangible benefits derived from the use of this electronic platform by the Central Bank and the participants in the Sipard,” said the institution.
