The Association of Multiple Banks of the Dominican Republic (ABA) assessed this Wednesday as positive the disposition of the Superintendence of Banks which authorizes the opening of simplified savings accounts exclusive for micro, small and medium-sized businesses (MSMEs), considering that it represents a significant advance to facilitate this segment’s access to the formal financial system and its business development.
The entity highlighted – in a press release – the importance of this conglomerate for the national economy and reported that there are currently 384,043 MSMEs as sole users of the financial system.
Furthermore, he added that this sector has a participation in the credit portfolio of 535,741 million pesos, which represents 43.1% of the credit portfolio business, according to data as of July 2025.
He explained that the Basic MSME Savings Account becomes a agile instrumentless expensive and simpler, designed especially for companies that still operate informally and that, in many cases, resort to personal financing or unregulated lenders.
“With this modality, the MSMEs They will be able to count on a business assets separated from staff, which provides greater legal certainty. For example, if a lawsuit is generated against the company, the rights are not compromised. personal property of the owners, and vice versa,” the union stressed.
On the financial level, he specified that the simplified accounts They allow banks to have an overview of the income streams of the MSMEswhich expands your possibilities of accessing a business credit with more favorable conditions.
Incentive to formalize
The ABA emphasized that this provision also acts as an incentive for formalization, since the MSMEs They must have a National Taxpayer Registry (RNC) and comply simplified requirements to open this type of accounts.
He pointed out that, in this way, a gateway to other people is created. financial productswhile promoting the organization and sustainability of businesses.
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“We support this initiative, which was one of the actions prioritized by the Financial Committee of the National Strategy Meta RD 2036 coordinated by this union, in the interest of reducing the high levels of informality in the Dominican economy. MSMEs represent more than 95% of the country’s business park, and especially microenterprises that will benefit the most from this instrument,” stated the ABA.
With its support for this provision, the multiple banking ratifies its commitment to accompany the MSMEs in your formalization processstrengthening and access to new opportunities of growth, assured the Association of Banks.
