INDEX and Dominican banks partner to create financial catalog for dominicans abroad

The Institute of Dominicans Abroad (INDEX) and various banking institutions in the country convened the inaugural session of the technical working group tasked with developing a catalog of financial products accessible to the Dominican community abroad for personal or business projects.

Carlos de la Mota, the Vice Minister for Dominican Communities Abroad and Executive Director of INDEX, emphasized that this initiative aligns with the Dominican Government’s objective to encourage investment, banking, and engagement with financial products offered by Dominican entities for nationals residing abroad. The initiative also aims to facilitate the acquisition of affordable housing, ensuring returning individuals have suitable homes upon their decision to come back to the country.

De la Mota underscored the significance of the technical table, emphasizing its commitment to compatriots abroad. He reiterated President Luis Abinader’s statement on February 27, emphasizing that Dominicans abroad remain integral to government policies. He highlighted the Foreign Minister Roberto Álvarez’s foreign policy focus on protecting Dominicans residing abroad as a top priority.

Representatives from Banreservas, Banco BHD, Citibank, Banco Ademi, the Association of Banks of the Dominican Republic (ABA), the Dominican League of Savings and Loan Associations (LIDAAPI), and the Superintendency of Banks (SIB) participated in the technical table’s inaugural meeting.

The creation of this financial products catalog addresses a recognized need within the Dominican community abroad. Through conversations with the community, it became evident that there is a desire for information on investment opportunities and banking facilities, particularly with an eye towards potential return to the country.