Local June 6, 2014 | 8:04 am

Dominican Republic industries also fear the corrupt stalking pension fund

Santo Domingo.- Dominican Republic’s Industries Association (AIRD) on Thursday joined the mounting group of national sectors to voice concern over control of the US$5.8 billion pension fund, and asked Congress to designate "independent people related to the export sector" to manage the Dominican Export Bank (BANDEX), a new State-owned financial entity.

The business group was referring to the two top officials of the National Housing Bank (BNV), Federico (Quiqui) Antún, president of the minority PRSC party, and Eduardo Selman, a senior member of the ruling PLD party, both involved in past scandals and not known for their links to the export sector.

AIRD president Ligia Bonetti also asked lawmakers to approve the bill that creates the BANDEX, "because it has been a request from the export sector for years,”

The business leader however cautioned against the mandatory provision of depositing 10% of the pension fund into the fledgling bank. "The AIRD doesn’t agree with the mandatory deposit of the pension fund in the BANDEX. The pension fund must be preserved and managed according to profitability that the market offers.”

The BANDEX should be managed "with technical criteria distanced from politicalinfluences" and required oversight from public and private sector, Bonetti said. "We ask that the initiative be partially amended and approved without delay."

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