representatives of the Inter-American Development Bank (IDB), of IDB Invest and the Association of Multiple Banks of the Dominican Republic (ABA) addressed the reality and challenges of the capital market in the country, seeking to identify opportunities that enhance its development.
The president of the ABA, Rosanna Ruizreceived at the union headquarters the mission made up of Diego Herrera, Jaime Sarmiento, Gabriel Jiménez and Manuel Jiménez, who were interested in hearing the opinion of the association on regulatory aspects, banking indicators, and the national and international economic situation that influence in the capital market in the Dominican Republic.
In a press document, the ABA reported that it was a first approach to identify and work, together with regulatorssupervisors and other capital market players, in aspects such as the generation of culture and projects aimed at ensuring that banks can be an important instrument to deepen this type of market in the country.
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Ruiz expressed that for commercial banks the development of the capital market is of great interest, not only because of its role as issuer, but also as an acquirer or institutional investor of titles.
In this regard, he pointed out that “it is of great importance to work on overcoming pitfalls for this capital market, so that derivative instruments can be developed to cover and mitigate liquidity and market risks in the management of investment portfolios, so important within the assets of multiple banks”.
He pointed out that with this vision of complementarity in the financial market and values, an efficient allocation of resources would be achieved in the long term, all of which would translate into greater economic and social development for the Dominican Republic.
