Dominican Republic Banking Superintendency assumes presidency of CCSBSO

Santo Domingo.- The Superintendency of Banks (SB) of the Dominican Republic has assumed the presidency of the Central American Council of Superintendents of Banks, Insurance, and Other Financial Institutions (CCSBSo) for the third time. This council oversees the financial systems of Central America, Panama, the Dominican Republic, and Colombia. In a press release, the SB highlighted that this leadership role strengthens both its own standing and that of the Dominican Republic within the region. The SB will hold this position for two years starting in August 2024.

In his acceptance speech, Superintendent of Banks Alejandro Fernández W. emphasized the importance of reinforcing consolidated and cross-border supervision to ensure financial stability.

The SB’s presidency aligns with its vision of being an international leader in banking supervision. The institution has actively worked with its Central American counterparts, hosting key meetings in the Dominican Republic this year. These include the CCSBSo Board of Directors and General Assembly in Punta Cana, as well as a regional committee meeting in Santo Domingo focused on money laundering and terrorism financing prevention, following international standards.